News Corp. Earnings: Here’s Why Investors are Shedding Shares Now
News Corporation (NASDAQ:NWS) delivered a profit and beat 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 0.24%.
News Corporation Earnings Cheat Sheet
Results: Net income increased to $2.38 billion (44 cents per diluted share) in the quarter versus a net gain of $1.06 in the year-earlier quarter.
Revenue: Increased to $9.43 billion from $8.98 billion in the year-earlier quarter.
Actual vs. Wall St. Expectations: News Corporation reported adjusted net income of $0.44 cents per share. By that measure, the company beat the mean analyst estimate of $0.43.
Key Stats (on next page)…
Looking Forward: Analysts have a receding outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings have increased from $0.41 to $0.42.
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(Company fundamentals provided by Xignite Financials.)