Fox Corporation said profit in its first fiscal quarter fell due to higher operating expenses, even as overall revenue rose 5% or $174 million, tied to increased cash from advertising and distribution.
The owner of Fox News Channel, Fox Sports and the Fox broadcasting network said net income attributable top shareholders came to $599 million, or $1.32 per share, compared with $827 million, or $1.78 per share, in the year-earlier period. Adjusted for one-time items, first quarter profit came to $1.51
per share.
Fox said it saw higher expenses during the period tied to increases in digital marketing and content costs and entertainment programming rights amortization.
“We…
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‘ Some details of this article were extracted from the following source www.imdb.com ’
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