Fox Reports Weak Fiscal Third Quarter; No Acceleration in U.S. Sub Losses
Fox posted a slightly worse-than-expected fiscal third quarter, with revenue and EBITDA both slightly below our projections as the film studio continues to disappoint and the cable segment continues to suffer from demonetization in India. While the quarter was disappointing, we are encouraged by the continued strength of the domestic cable business which posted affiliate fee growth of 8%. We are maintaining our wide moat rating and our fair value estimate of $35. Currently trading in 4-star terr...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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