News Corp. reports 1Q loss
News Corp. (NWSA) on Monday reported a fiscal first-quarter loss of $15 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 3 cents per share. Losses, adjusted for non-recurring costs, were 1 cent per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for a loss of 1 cent per share.
The publishing company whose flagship is The Wall Street Journal posted revenue of $1.97 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $1.98 billion.
News Corp. shares have decreased 8.5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 4 percent. In the final minutes of trading on Monday, shares hit $12.22, a decline of 20 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NWSA at https://www.zacks.com/ap/NWSA
Keywords: News Corp., Earnings Report