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Super Bowl XLVIII Helps 21st Century Fox Top Q3 Earnings Estimates


By Tony Maglio

It's good to have the Super Bowl.

Twenty-First Century Fox reported revenue of $8.2 billion revenue in its fiscal third quarter, driven mostly by a $338 million increase at the Television segment — which was led by the broadcast of Super Bowl XLVIII. The company also jumped $325 million for the Cable Network Programming segment, led by global affiliate revenue growth.

The company beat analyst estimates.

Also read:  What Happened to Fox's Plan to Abandon Pilot Season

Chairman and CEO Rupert Murdoch said in a statement: "We delivered strong results in the fiscal third quarter with double-digit revenue and earnings growth led by sustained gains in affiliate fees at our cable networks. The sizeable audiences of our live television events, led by the most watched Super Bowl in history, underscore the value of our investments in live sports programming, both in the US and internationally. This quarter's continued solid operational and financial performance demonstrates the global leadership of our businesses and the long-term value we are creating for our shareholders."

More to come …

The post Super Bowl XLVIII Helps 21st Century Fox Top Q3 Earnings Estimates appeared first on TheWrap.

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