News Corp. Earnings: Here’s Why Investors Like These Results
News Corp. (NASDAQ:NWSA) delivered a profit and met 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 2.95%.
News Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 2.7% to $0.36 in the quarter versus EPS of $0.37 in the year-earlier quarter.
Revenue: Rose 13.52% to $9.54 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: News Corp. reported adjusted EPS income of $0.36 per share. By that measure, the company met the mean analyst estimate of $0.36. It beat the average revenue estimate of $9.14 billion.
Quoting Management: Chairman and Chief Executive Officer Rupert Murdoch said: “In our fiscal third quarter News Corp. achieved organic growth across our cable, film and television segments and, through the consolidation of Sky Deutschland and sale of stakes in SKY New Zealand and Phoenix Satellite Television, we advanced our strategic agenda to simplify our global portfolio. We also announced our plans to broaden our core cable business with the unveiling of our national sports channel Fox Sports 1 and our third branded FX channel, FXX. Both initiatives underscore our strategy of maximizing existing assets and leadership positions to drive sustainable growth and long-term value.”
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