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News Corp.: Fiscal 4Q Earnings Snapshot

August 9, 2018

NEW YORK (AP) _ News Corp. (NWSA) on Thursday reported a loss of $371 million in its fiscal fourth quarter.

The New York-based company said it had a loss of 64 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 8 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The publishing company whose flagship is The Wall Street Journal posted revenue of $2.69 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $2.31 billion.

For the year, the company reported that its loss widened to $1.51 billion, or $2.60 per share. Revenue was reported as $9.02 billion.

News Corp. shares have fallen nearly 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 7 percent. In the final minutes of trading on Thursday, shares hit $15.26, a rise of roughly 8 percent in the last 12 months.

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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

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