News Corp. Earnings Cheat Sheet: Revenue Rises

S&P 500 (NYSE:SPY) component News Corporation (NASDAQ:NWSA) reported its results for the fourth 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 Fourth Quarter

Results: Net income for the entertainment company fell to $683 million (26 cents per share) vs. $875 million (33 cents per share) a year earlier. This is a decline of 21.9% from the year earlier quarter.

Revenue: Rose 10.5% to $8.96 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: NWSA reported adjusted net income of 35 cents per share. By that measure, the company beat the mean estimate of 30 cents per share. It beat the average revenue estimate of $8.44 billion.

Quoting Management: Commenting on the results, Chairman and Chief Executive Officer Rupert Murdoch said: “I’m pleased that once again News Corporation exhibited operational momentum in both the final quarter of fiscal 2011 and for the full year driven by significant increases at our market-leading Cable Network Programming and Television segments. While it has been a good quarter from a financial point of view, our company has faced challenges in recent weeks relating to our London tabloid, News of the World. We are acting decisively in the matter and will do whatever is necessary to prevent something like this from ever occurring again. “It is important to note that there has been no material impact on our other operations. Our broad, diverse group of businesses across the globe is extremely strong today. The drivers of our businesses are intact, our position is strong and our future is promising. Our fundamental goals at News Corp are to produce sustained, meaningful value for shareholders, provide outstanding content and services to customers and consumers – and do it with integrity. These goals are interrelated and all three are critically important. And we will deliver on them.”

Key Stats:

The company topped expectations last quarter after falling short of forecasts in the third quarter with net income of 26 cents versus a mean estimate of net income of 27 cents per share.

Revenue rose last quarter after seeing a drop the quarter before. Revenue fell 6% to $8.26 billion in the third quarter from the year earlier.

Competitors to Watch: News Corporation (NASDAQ:NWS), The Walt Disney Company (NYSE:DIS), Time Warner Inc. (NYSE:TWX), The New York Times Company (NYSE:NYT), Gannett Co., Inc. (NYSE:GCI), CBS Corporation (NYSE:CBS), The E.W. Scripps Company (NYSE:SSP), Journal Communications, Inc. (NYSE:JRN), and Pearson PLC (NYSE:PSO).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)

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