News Corp. Earnings: Here’s Why Investors are Shedding Shares Now
News Corporation (NASDAQ:NWS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.24%.
News Corporation Earnings Cheat Sheet
Results: Net income increased to $2.38 billion (44 cents per diluted share) in the quarter versus a net gain of $1.06 in the year-earlier quarter.
Revenue: Increased to $9.43 billion from $8.98 billion in the year-earlier quarter.
Actual vs. Wall St. Expectations: News Corporation reported adjusted net income of $0.44 cents per share. By that measure, the company beat the mean analyst estimate of $0.43.
Key Stats (on next page)…