What To Expect From 21st Century Fox’s Q2 FY16 Earnings?

21st Century Fox will report its Q2 earnings for fiscal 2016 on February 8th. (The fiscal year ends with June.) ^[1] What to we expect to learn? Below we will provide our thoughts in  detail But first let us share key points in a direct tabular fashion.  The following chart highlights our 2015 (calendar year) result estimates for 21st Century Fox (NASDAQ:FOX).

While Fox’s cable networks likely performed well in the December quarter, amid higher ratings at Fox News, the broadcasting network will likely report lower advertising income in the domestic market amid lower viewership. Fox News ended 2015 as the  No. 2 cable network in primetime viewing, behind only ESPN, while Fox Sports 1 (FS1) continued to see double-digit ratings growth. Fox News has benefited from higher ratings for the GOP debates and FS1 from its coverage of Women’s World Cup and college football among others. However, Fox broadcasting will end calendar year 2015 with a double-digit drop in ratings. This can be attributed to absence of the Super Bowl, which boosted Fox’s ratings in 2014. Looking at studio entertainment, it should benefit from the success of Martian, among other movies. However, continued currency issues will likely weigh over the foreign box-office collections.

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