21st Century Fox reports 4% increase in US ad sales in first report since News Corp split
21st Century Fox has reported positive results in its first financial statement since its split from the publishing arm.
Net income for the second quarter was reported at $977m, a considerable increase from the $596m in the same quarter a year earlier.
Advertising sales were also up, with a four per cent increase noted in the US and a 20 per cent increase internationally.
However, there was a seven per cent decline in ad revenue, due to the decline of ‘American Idol,’ according to Fox.
Revenue in the quarter totalled $7.2bn, up 16 per cent, partially thanks to its growing base of subscribers.
The report comes following last month's split of Rupert Murdoch's News Corporation into the media arm, 21st Century Fox, and the publishing arm called News Corp.