Fox Corporation Q1 Profit Decreases, but beats estimates

(RTTNews) - Fox Corporation (FOX) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $605 million, or $1.10 per share. This compares with $701 million, or $1.21 per share, in last year's first quarter.

Excluding items, Fox Corporation reported adjusted earnings of $670 million or $1.21 per share for the period.

Analysts on average had expected the company to earn $1.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.6% to $3.19 billion from $3.05 billion last year.

Fox Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $605 Mln. vs. $701 Mln. last year. -EPS (Q1): $1.10 vs. $1.21 last year. -Analyst Estimates: $1.14 -Revenue (Q1): $3.19 Bln vs. $3.05 Bln last year.