TWENTY-FIRST CENTURY FOX, INC. (FOX) [Rocket]

In millions, except per share items	Dec-31-18	Sep-30-18	Jun-30-18	Mar-31-18	Dec-31-17	Sep-30-17	Jun-30-17	Mar-31-17
	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q
Revenues:
Cable Network Programming	26,714	26,557	26,406	17,349	16,954	16,516	16,130	15,722
Filmed Entertainment	14,292	14,379	14,526	8,255	8,268	8,291	8,235	8,470
Television	9,479	9,137	8,926	5,023	5,564	5,676	5,649	5,687
Total revenues	31,037	30,575	30,400	29,207	29,351	28,996	28,500	28,398
Revenue growth [+]	5.7%	5.4%	6.7%	2.8%	4.6%	4.5%	4.3%	5.6%
Cable Network Programming	57.6%	60.8%	63.7%	10.3%	8.4%	7.4%	7.3%	7.1%
Filmed Entertainment	72.9%	73.4%	76.4%	-2.5%	-3.1%	-3.9%	-3.2%	1.1%
Television	70.4%	61.0%	58.0%	-11.7%	5.1%	11.4%	10.7%	12.6%
Cost of goods sold	20,057	19,812	19,769	19,344	19,587	18,739	18,273	18,168
Gross profit	10,980	10,763	10,631	9,863	9,764	10,257	10,227	10,230
Gross margin	35.4%	35.2%	35.0%	33.8%	33.3%	35.4%	35.9%	36.0%
Selling, general and administrative [+]	3,785	3,710	3,668	3,366	3,224	3,152	3,119	3,124
Sales and marketing	2,788	2,713		2,671	2,529	2,457		2,424
General and administrative			997				695
Equity in earnings	-357	-281	-256	-43	-8	-16	-41	-129
Other operating expenses			-128				-45
EBITDA [+]	6,966	6,900	6,835	6,490	6,568	7,125	7,112	7,024
EBITDA growth	6.1%	-3.2%	-3.9%	-7.6%	-6.3%	4.8%	9.0%	6.4%
EBITDA margin	22.4%	22.6%	22.5%	22.2%	22.4%	24.6%	25.0%	24.7%
Depreciation	425	408	391	317	313	307	299	292
EBITA	6,541	6,492	6,444	6,173	6,255	6,818	6,813	6,732
EBITA margin	21.1%	21.2%	21.2%	21.1%	21.3%	23.5%	23.9%	23.7%
Amortization of intangibles	192	192		255	254	253	254	257
EBIT [+]	6,349	6,300	6,251	5,918	6,001	6,565	6,559	6,475
EBIT growth	5.8%	-4.0%	-4.7%	-8.6%	-7.2%	4.9%	9.4%	6.6%
EBIT margin	20.5%	20.6%	20.6%	20.3%	20.4%	22.6%	23.0%	22.8%
Non-recurring items [+]		67	72	160	163	199	315	490
Asset impairment		53		160	163	199	315	490
Interest expense, net [+]	1,035	1,130	1,141	1,189	1,189	1,176	1,156	1,152
Interest expense	1,178	1,196	1,209	1,227	1,226	1,213	1,192	1,189
Interest income	143	66	68	38	37	37	36	37
Other income (expense), net	10,200	-504	-628	-425	-584	-443	-399	-413
Pre-tax income	15,450	4,599	4,410	4,144	4,065	4,747	4,689	4,420
Income taxes	1,219	-629	-364	-199	-199	1,467	1,419	1,101
Tax rate	7.9%	-13.7%	-8.3%	-4.8%		30.9%	30.3%	24.9%
Minority interest	-306	-299	-298	-291	-277	-272	-274	-257
Earnings from continuing ops	13,636	4,652	4,222	4,020	3,961	2,986	2,952	3,043
Earnings from discontinued ops			7
Net income	13,643	4,659	4,229	4,020	3,961	2,986	2,952	3,043
Net margin	44.0%	15.2%	13.9%	13.8%	13.5%	10.3%	10.4%	10.7%

Basic EPS [+]	$7.36	$2.51	$2.28	$2.17	$2.14	$1.61	$1.59	$1.62
Growth	244.0%	55.8%	43.2%	33.8%	31.2%	6.7%	13.0%	42.7%
Diluted EPS [+]	$7.33	$2.50	$2.28	$2.17	$2.14	$1.61	$1.59	$1.62
Growth	243.1%	55.4%	43.1%	33.8%	31.2%	6.6%	13.0%	42.7%

Dividends per share [+]	$0.85	$0.86	$0.85	$0.54	$0.53	$0.52	$0.51	$0.47
Growth	61.8%	67.2%	66.9%	15.4%	12.7%	20.9%	21.2%	10.3%

Shares outstanding (basic) [+]	1,854	1,853	1,853	1,853	1,853	1,853	1,855	1,877
Growth	0.1%	0.0%	-0.1%	-1.3%	-2.2%	-3.5%	-5.2%	-6.3%
Shares outstanding (diluted) [+]	1,861	1,858	1,856	1,856	1,854	1,854	1,857	1,879
Growth	0.3%	0.2%	0.0%	-1.2%	-2.1%	-3.5%	-5.2%	-6.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.