News: 21st Century Fox 2Q profit falls

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Twenty-First Century Fox (ASX:FOX) has halved its second quarter net income, even though the company delivered top-line revenue growth across its businesses.

 

The entertainment company posted a second quarter profit of $US 1.21 billion, down from $2.38 billion for the same period a year ago.

 

Revenue rose to $8.16 billion, up 15 per cent on the previous corresponding period.

 

Chairman and CEO Rupert Murdoch says the investments the company is making in its core businesses will drive and support long term growth.

 

21st Century Fox was established last year when News Corp was split into two companies.