New York, NY – November 05, 2013 – The Company reported first quarter total segment operating income before depreciation and amortization (“OIBDA”)(2) of $1.62 billion, as compared to $1.59 billion reported a year ago. The 2% improvement was led by OIBDA growth at the Company’s DBS and Television segments which was offset principally by declines at the Filmed Entertainment segment.
The Company reported quarterly income from continuing operations attributable to stockholders of $768 million ($0.33 per share), as compared to $2.25 billion ($0.95 per share) reported in the corresponding period of the prior year. Current year quarterly results included a $139 million increase in Depreciation and amortization expense principally resulting from the consolidation of Sky Deutschland, including the amortization of intangible assets resulting from the Company’s acquisition of a controlling ownership stake in this entity in January 2013. Prior year quarterly results included $1.37 billion of income in Other, net, principally related to the gain on the sale of the ownership stake in the NDS Group Limited. Excluding the net income effects of Other, net and Impairment charges, as well as gains from the Company’s participation in British Sky Broadcasting’s (“BSkyB”) share repurchase program, which are reflected in Equity earnings, first quarter adjusted earnings per share(3) was $0.33 versus the adjusted prior year quarter result of $0.38.
Commenting on the results, Chairman and Chief Executive Officer Rupert Murdoch said:
“In our first quarter as 21st Century Fox, we delivered strong revenue increases across all of our businesses as well as growth in OIBDA even as we made significant investment in our channels business, and faced a difficult film comparison and currency headwinds. The investment we are making, including the launch of FXX and Fox Sports 1, will drive future sustained growth toward our stated 2016 target of $9 billion of OIBDA and beyond.”