Fox Films, in the throes of reorganizing, stripped its founder of all power; within two and a half years, the stock, once traded at $100 per share, bottomed out at ¼. Warner Brothers barely held on.
Earnings per share came out at 51 cents a share, down from Wall Street expectations of 53 cents a share, according to First Call.
As expected, Sprint is upping its offer for outstanding Clearwire shares to $3.40 per share, working out to an offer of about $2.5 billion.
The company today announced that it would repurchase 40 million shares owned by the hedge fund Third Point LLC at a price of $29.11 per share, working out to some $1.164 billion in value.
That per-share loss works out to a net loss for the firm of $437 million.
Its adjusted loss, noted above in per-share terms, worked out to a $4.1 million deficit.
The latter compares to the 22p-26p earnings per share thresholds laid out in Serco's recently rebased Performance Share Plan (which rises to 30p-35p by 2018).
He predicted on Wednesday that earnings per share, after stripping out some items, would grow by 3 to 4 percent at constant exchange rates in 2013, with sales rising about 1 percent.
