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 dollars in its first earnings report as an independent entity.

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

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

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