Fox Corporation Q1 Profit Decreases, but beats estimates

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

The company's earnings totaled $407 million, or $0.82 per share. This compares with $605 million, or $1.10 per share, in last year's first quarter.

Excluding items, Fox Corporation reported adjusted earnings of $537 million or $1.09 per share for the period.

Analysts on average had expected the company to earn $1.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.6% to $3.21 billion from $3.19 billion last year.

Fox Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $407 Mln. vs. $605 Mln. last year. -EPS (Q1): $0.82 vs. $1.10 last year. -Analyst Estimates: $1.03 -Revenue (Q1): $3.21 Bln vs. $3.19 Bln last year.