News Corp. Earnings Cheat Sheet: Beats Estimates on Double Digit Profit Growth

S&P 500 (NYSE:SPY) component News Corporation (NASDAQ:NWSA) reported net income above Wall Street’s expectations for the third quarter. News Corp. is a global media company with operations in film, television, cable programming, satellite television, magazines, and book publishing.

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News Earnings Cheat Sheet for the Third Quarter

Results: Net income for the newspaper publishing rose to $937 million (38 cents per share) vs. $639 million (24 cents per share) in the same quarter a year earlier. This marks a rise of 46.6% from the year-earlier quarter.

Revenue: Rose 1.8% to $8.4 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: News Corporation reported adjusted net income of 37 cents per share. By that measure, the company beat the mean estimate of 31 cents per share. Analysts were expecting revenue of $8.24 billion.

Quoting Management: Commenting on the results, Chairman and Chief Executive Officer Rupert Murdoch said: “Once again News Corporation showed strong operational momentum in the quarter, driven by significant growth at our Cable Network Programming and Filmed Entertainment segments. With our disciplined approach to monetizing our brands, I believe we are better situated than ever to capitalize on the increasing global demand for our superior content.”

Key Stats:

News Corp. (NASDAQ:NWSA) has now topped analyst estimates for the last four quarters. It beat the mark by 5 cents in the second quarter, by 3 cents in the first quarter, and by 6 cents in the fourth quarter of the last fiscal year.

Revenue has risen for the last four quarters. Revenue increased 2.4% to $8.97 billion in the second quarter. The figure rose 7.2% in the first quarter from the year earlier and climbed 10.5% in the fourth quarter of the last fiscal year from the year-ago quarter.

For two consecutive quarters, the company’s net income has risen. In the second quarter, net income rose 64.6% from the year earlier.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from 39 cents a share to 36 cents over the last ninety days. In the past month, the average estimate for the fiscal year has fallen from $1.38 per share to $1.37 abs.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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