Do Recent Profits Support a Move Higher in News Corp.?
T = Trends for a Stock’s Movement
News Corp. is a diversified media and information services company. The company now operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. News Corp.’s business consists of news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-TV distribution in Australia. Its products and services are distributed under the following brands: The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, Fox Sports Australia, and realestate.com.au. Lastly, News Corp. is a developing provider of digital education content, assessment, and delivery services.
A filing shows that the publishing company, News Corp., recently made a profit, which is a turn around from last year’s loss. The company under chairman Rupert Murdoch split this off from the rest of his entertainment business in June. News Corp. made a profit of $506 million ending in June, which is a good boost from the loss of $2.08 billion a year. The profit was 87 cents per share this year while the loss was $3.58 the year before. The loss that had occurred the year before could mainly be attributed to a non-cash charge of $2.8 billion. This was mainly due to the Australian business.