By Liana B. Baker
(Reuters) - Rupert Murdoch's 21st Century Fox
The company, which owns cable networks such as Fox News and FX, said its domestic advertising revenue increased 7 percent in the quarter to December 31.
That beat U.S. cable network rivals Viacom
The company credited the ad increase to double-digit growth at FX networks, its new sports network Fox Sports 1 and its regional sports networks.
Fox has spending heavily on sports, going after ESPN on a national basis with its Fox Sports 1 channel that launched in August. On January 24, it took an 80 percent stake in the New York Yankees YES Network.
Fox, in a statement on Thursday, said it recorded $8.16 billion (5 billion pounds) of total revenue in the quarter, a 15 percent increase from the same period a year earlier. Analysts were expecting revenue of $7.89 billion.
Net income was $1.2 billion, or 53 cents per share, down from $2.38 billion a year ago, or $1.01 per share.
Excluding items such as BSkyB's
Fox's filmed entertainment unit, which includes its movie studio, saw revenue fall 21 percent without the hits it had a year earlier in the quarter such as "Taken 2".
It also had "higher theatrical release costs" in the quarter for some new titles.
(Reporting by Liana B. Baker; Editing by Bernadette Baum and Sophie Hares)