Name: Twenty-First Century Fox Inc. (NASDAQ:FOX) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Twenty-First Century Fox Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013	Dec 31, 2012	Sep 30, 2012
Revenues	8,499)	7,177)	7,941)	7,420)	8,037)	7,002)	6,748)	7,564)	7,682)	6,506)	6,646)	7,228)	7,375)	6,077)	6,205)	6,840)	8,055)	7,887)	8,424)	8,219)	8,163)	7,061)	7,212)	7,353)	7,107)	6,003)
Operating expenses	(6,005)	(4,424)	(5,047)	(4,581)	(5,760)	(4,381)	(4,185)	(4,763)	(4,912)	(3,915)	(4,227)	(4,472)	(4,757)	(3,673)	(3,786)	(4,357)	(5,366)	(5,052)	(5,635)	(5,475)	(5,551)	(4,447)	(4,637)	(4,826)	(4,518)	(3,515)
Gross profit	2,494)	2,753)	2,894)	2,839)	2,277)	2,621)	2,563)	2,801)	2,770)	2,591)	2,419)	2,756)	2,618)	2,404)	2,419)	2,483)	2,689)	2,835)	2,789)	2,744)	2,612)	2,614)	2,575)	2,527)	2,589)	2,488)
Selling, general and administrative	(939)	(890)	(997)	(959)	(864)	(848)	(1,132)	(878)	(792)	(815)	(990)	(893)	(903)	(889)	(894)	(823)	(988)	(1,079)	(1,047)	(978)	(1,086)	(1,018)	(1,109)	(980)	(998)	(920)
Depreciation and amortization	(159)	(158)	(155)	(145)	(142)	(142)	(143)	(140)	(135)	(135)	(139)	(133)	(130)	(128)	(135)	(124)	(201)	(276)	(302)	(267)	(260)	(313)	(228)	(214)	(181)	(174)
Impairment and restructuring charges	—)	(16)	(14)	(34)	(3)	(21)	(102)	(37)	(39)	(137)	(308)	(15)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(13)	—)	—)	(35)
Operating income	1,396)	1,689)	1,728)	1,701)	1,268)	1,610)	1,186)	1,746)	1,804)	1,504)	982)	1,715)	1,585)	1,387)	1,390)	1,536)	1,500)	1,480)	1,440)	1,499)	1,266)	1,283)	1,225)	1,333)	1,410)	1,359)
Equity earnings (losses) of affiliates	(109)	35)	(79)	(86)	(33)	60)	16)	(51)	(41)	35)	(72)	(9)	12)	35)	(55)	330)	250)	379)	192)	170)	168)	92)	223)	132)	171)	129)
Interest expense, net	(294)	(300)	(312)	(311)	(312)	(313)	(310)	(310)	(299)	(300)	(296)	(295)	(298)	(295)	(291)	(292)	(310)	(305)	(291)	(284)	(274)	(272)	(261)	(277)	(264)	(261)
Interest income	86)	8)	10)	10)	9)	10)	9)	9)	9)	9)	10)	12)	7)	9)	8)	8)	9)	14)	5)	6)	7)	8)	18)	8)	16)	15)
Other, net	10,475)	52)	(266)	17)	(229)	(72)	(86)	(142)	(88)	(11)	(78)	(32)	(142)	(83)	(812)	(67)	5,040)	35)	51)	(33)	191)	(35)	88)	2,109)	194)	1,369)
Income from continuing operations before income tax (expense) benefit	11,554)	1,484)	1,081)	1,331)	703)	1,295)	815)	1,252)	1,385)	1,237)	546)	1,391)	1,164)	1,053)	240)	1,515)	6,489)	1,603)	1,397)	1,358)	1,358)	1,076)	1,293)	3,305)	1,527)	2,611)
Income tax (expense) benefit	(630)	(126)	(93)	(370)	1,218)	(391)	(258)	(370)	(448)	(343)	60)	(463)	(414)	(313)	(93)	(458)	(189)	(503)	(343)	(269)	(360)	(300)	(253)	(728)	(405)	(304)
Income from continuing operations	10,924)	1,358)	988)	961)	1,921)	904)	557)	882)	937)	894)	606)	928)	750)	740)	147)	1,057)	6,300)	1,100)	1,054)	1,089)	998)	776)	1,040)	2,577)	1,122)	2,307)
Income (loss) from discontinued operations, net of tax	(17)	(7)	(5)	(18)	(5)	16)	(25)	(12)	(1)	(6)	—)	(3)	(2)	(3)	(29)	(15)	(16)	(7)	33)	(16)	225)	487)	(1,348)	321)	1,324)	(20)
Net income	10,907)	1,351)	983)	943)	1,916)	920)	532)	870)	936)	888)	606)	925)	748)	737)	118)	1,042)	6,284)	1,093)	1,087)	1,073)	1,223)	1,263)	(308)	2,898)	2,446)	2,287)
Net income attributable to noncontrolling interests	(92)	(66)	(63)	(85)	(85)	(65)	(56)	(71)	(80)	(67)	(39)	(84)	(76)	(62)	(31)	(67)	(77)	(56)	(88)	(20)	(16)	(8)	(63)	(44)	(65)	(54)
Net income attributable to Twenty-First Century Fox, Inc. stockholders	10,815)	1,285)	920)	858)	1,831)	855)	476)	799)	856)	821)	567)	841)	672)	675)	87)	975)	6,207)	1,037)	999)	1,053)	1,207)	1,255)	(371)	2,854)	2,381)	2,233)

The financial performance over the observed period is characterized by stable operating results contrasted with extreme volatility in net income, primarily driven by non-operating items and periodic one-time gains.

Revenue and Gross Profit Trends: Revenues exhibit a cyclical pattern, generally fluctuating between 6.0 billion and 8.5 billion US dollars per quarter. A period of growth is noted from 2012 through mid-2014, followed by a contraction in 2015, and a subsequent recovery. Gross profit remains relatively resilient despite these revenue swings, typically maintaining a range between 2.2 billion and 2.9 billion US dollars, suggesting a consistent ability to manage direct costs of production.
Operating Efficiency and Expenses: Operating income demonstrates a steady trend, largely remaining between 1.2 billion and 1.8 billion US dollars, with the exception of June 30, 2016, where income dropped to 982 million US dollars. This specific decline is attributable to a spike in impairment and restructuring charges, which reached 308 million US dollars in that quarter. Selling, general, and administrative expenses remain controlled, fluctuating within a narrow band between 792 million and 1.13 billion US dollars.
Net Income Volatility and Non-Operating Impacts: Net income shows significant deviation from operating performance due to the "Other, net" category. Two massive spikes occur in December 2014 (6.28 billion US dollars) and December 2018 (10.9 billion US dollars), coinciding with non-operating gains of 5.04 billion and 10.47 billion US dollars, respectively. Conversely, net income experienced a sharp decline to negative 308 million US dollars in June 2013, driven by losses in discontinued operations. A significant income tax benefit of 1.2 billion US dollars in December 2017 also contributed to a temporary surge in the bottom line.
Fixed Obligations and Depreciation: Interest expenses are remarkably consistent, holding steady between 260 million and 313 million US dollars per quarter throughout the entire period. Depreciation and amortization expenses saw a decline from peaks of approximately 313 million US dollars in 2013 to a more stable level of approximately 140 million to 160 million US dollars from 2016 onwards, indicating a change in the asset base or depreciation schedules.

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Twenty-First Century Fox Inc. (NASDAQ:FOX)

Income StatementQuarterly Data

Income Statement
Quarterly Data