News Corp.: Fiscal 1Q Earnings Snapshot
NEW YORK (AP) _ News Corp. (NWSA) on Wednesday reported fiscal first-quarter net income of $101 million.
On a per-share basis, the New York-based company said it had profit of 17 cents.
The results surpassed Wall Street expectations. The average estimate of three 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 $2.52 billion in the period.
News Corp. shares have fallen 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 percent. In the final minutes of trading on Wednesday, shares hit $13.43, a fall of 5 percent in the last 12 months.