21st Century Fox just turned in its fiscal fourth-quarter earnings and stamped the results with a big 18% rise in revenues, up from $6.75 billion one year ago to $7.94 billion.
The company’s quarterly income from continuing operations rose to $925 million, up from $501 million during the year-ago quarter.
The increases were led by double-digit revenue growth for all of Fox’s key segments. Cable networks revenue rose 14% thanks to affiliate and advertising growth. The segment’s quarterly OIBDA increased 12% to $1.61 billion.
Fox’s television segment revenues rose 14% due to higher retransmission consent revenue and higher Fox Broadcast Network advertising revenue from the broadcast of the FIFA World Cup. At the same time, the segment was hit with a 20% increase in expenses due to the World Cup and higher entertainment programming costs.
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“We start a new fiscal year with tailwinds from last quarter’s double-digit topline growth across our business segments. As we move closer to combining our businesses with Disney and establishing new ‘Fox,’ we are convinced that the paths we are creating for our iconic businesses will drive enduring and growing value for our shareholders,” said Executive Chairmen Rupert and Lachlan Murdoch in a statement (PDF).
Elsewhere, Fox saw declines and losses during the quarter among its equity stakes. Sky, of which Fox owns 39%, posted a decreased contribution to Fox’s revenues while Hulu, of which Fox owns 30%, expanded its losses to $127 million.