Rupert Murdoch's 21st Century Fox posts profit of $1.3b

Rupert Murdoch's 21st Century Fox has reported a profit of $1.3 billion in its first earnings report as an independent entity.

The company earned revenues of $7.06 billion in the first fiscal quarter ended September 30.

According to news.com.au, the profit was below most analyst forecasts and down 44 % from comparable figures a year earlier.

Revenue was up 18 % from a year earlier and ahead of most projections.