Twenty-First Century Fox, Inc. (NASDAQ:FOX) Q2 2017 Earnings Conference Call - Final Transcript
Feb 06, 2017 • 04:30 pm ET
Ladies and gentlemen, thank you for standing by. Welcome to the Twenty-First Century Fox second-quarter 2017 earnings call. (Operator Instructions) As a reminder, the conference is being recorded. I'll now turn the conference over to our host, Mr. Reed Nolte, Executive Vice President, Investor Relations.
Thank you very much, operator. Hello everyone, and welcome to our second quarter FY17 earnings conference call. On the call today are Lachlan Murdoch, Executive Chairman; James Murdoch, Chief Executive Officer; John Nallen, our Chief Financial Officer.
Thank you, James. Now, operator, we'd be happy to take questions from the investment community.
First we will give some prepared remarks on the most recent quarter, and we'll be happy to take questions the investment community. This call may include certain forward-looking information with respect to Twenty-First Century Fox's business and strategy. Actual results could differ materially from what is said. The Company's Form 10-Q for the three months ended December 31, 2016 identifies the risks and uncertainties that could cause actual results to differ, and these statements are qualified by the cautionary statements contained in such filings.
Additionally, this call will include certain non-GAAP financial measurements. The definition of and a reconciliation of such measures can be found in our earnings release and our 10-Q filings. Please note that certain financial measures used on this call, such as segment operating income before depreciation and amortization, often referred to as EBITDA, and adjusted earnings per share are expressed on a non-GAAP basis. GAAP to non-GAAP reconciliation of these non-GAAP measures is included in our earnings release.
Lastly, please note that our offer for Sky PLC that was announced last December is governed by the UK Takeover Code, and as a result we are subject to strict limitations as to what we can say with respect to that transaction. With that, I'm pleased to turn it over to Lachlan.
Thanks, Reed, and good afternoon everyone from Houston, where last night we were privileged to witness a brilliant Super Bowl telecast, beautifully produced and expertly delivered by Eric Shanks and his team at Fox Sports. I want to thank the literally thousands of Fox Sports staff, who brought us this amazing game.
This single game is a great example of the strength of live sport, increasingly delivered across multiple platforms, the power of our core brands aligned with our ability to cross-promote them, and the continued volume broadcast television delivers through the world's leading marketers. And yesterday, the Super Bowl powered Fox's first $0.5 billion revenue day. That's something that's made Mr. Nallen sitting across from me very happy.
Of course that revenue falls in the third quarter, but for the second quarter, we are pleased to have delivered another strong result, both from an operational and financial standpoint, as evidenced by the 15% EBITDA growth and 20% adjusted EPS growth that we have just reported. Importantly, this growth was broad-based, with earnings gains in all of our operating segments, including strong double-digit increases in both film and television.