Twenty-First Century Fox 2Q profit falls 49 pct

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Associated Press

Posted on February 6, 2014 at 8:01 AM

Updated Thursday, Feb 6 at 8:02 AM

NEW YORK (AP) — Twenty-First Century Fox says its fiscal second-quarter net income dropped 49 percent, mainly as a result of acquisition-related costs.

For the quarter ended Dec. 31, the media entertainment giant controlled by Rupert Murdoch earned $1.21 billion, or 53 cents per share, down from $2.38 billion, or $1.01 per share, in the same quarter the year before. Excluding one-time items, the company posted an adjusted profit of 33 cents per share.

Revenue rose 15 percent to $8.16 billion from $7.11 billion.

Analysts, on average, expected a profit of 33 cents per share on $7.87 billion in revenue, according to FactSet.

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