21st Century Fox Q1 revenues hit $1.6bn

21st Century Fox has reported first quarter operating income before depreciation and amortisation of $1.62 billion, as compared to $1.59 billion reported a year ago.  The improvement was led by growth at the Company’s DBS and Television units which was offset principally by declines at the Filmed Entertainment segment.

The company reported quarterly income from continuing operations attributable to stockholders of $768 million, as compared to $2.25 billion reported in the corresponding period of the prior year.  Prior year quarterly results included $1.37 billion of income principally related to the gain on the sale of the ownership stake in the NDS Group.

Chairman and Chief Executive Officer Rupert Murdoch said: “In our first quarter as 21st Century Fox, we delivered strong revenue increases across all of our businesses as well as growth in OIBDA even as we made significant investment in our channels business, and faced a difficult film comparison and currency headwinds.  The investment we are making, including the launch of FXX and Fox Sports 1, will drive future sustained growth toward our stated 2016 target of $9 billion of OIBDA and beyond.”

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