Overall, Fox reported that revenues, ending December 31, 2016, climbed 4.1% to $7.7 billion -- a bit under estimates. Net income grew 25% to $938 million. Mid-day Monday trading witnessed the stock sinking 2.5% before recovering a bit. It ended the day down 1% to close at $31.06.
Fox cable network programming revenue was up 7% to $3.97 billion. Advertising revenues played a big part: Domestic advertising revenue grew 12% on FX Networks, Fox Sports 1, Fox News and its regional sports networks -- especially from higher ratings at Fox News, due to the big political season.
Fox Sports 1 had good viewing from Major League Baseball playoff games.
Fox Television was 12% higher to $1.92 billion in revenue as a result of higher sports advertising, retransmission consent revenues, and higher content revenues at the Fox broadcast network -- as well as high local political advertising spending at its TV stations.
Fox Filmed Entertainment, its movies and TV production unit, was down 4% to $2.27 billion.
There were fewer theatrical movies released in the period, which was partially offset by higher TV production revenues from business with subscription video-on-demand services.