News Corp. tops 1Q earnings and revenue expectations
News Corp. (NWSA) on Wednesday reported fiscal first-quarter net income of $65 million.
The New York-based company said it had profit of 11 cents per share. Earnings, adjusted for non-recurring gains, came to 9 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The publishing company whose flagship is The Wall Street Journal posted revenue of $2.15 billion in the period, also exceeding Street forecasts. Analysts expected $2.09 billion, according to Zacks.
News Corp. shares have declined 15 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 9.5 percent. In the final minutes of trading on Wednesday, shares hit $15.30, a decline of 13 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. NWSA stock research report from Zacks.
Keywords:News Corp.,Earnings Report