News Corp. (NWSA) Misses Q1 Views on Tough Comps; Positive on TV Segment
Tweet
Share
E-mailGet Alerts NWSA Hot Sheet
Join SI Premium – FREE
News Corp. (Nasdaq: NWSA) shares are looking mostly spiritless in the after-hours trading session today, following third-quarter earnings from the media and entertainment giant.
Net income for News Corp was $639 million, or $0.24 per share, a 24 percent drop from $839 reported in the same period last year. Excluding certain items, EPS ended up at $0.26 for the quarter.
Consolidated revenues in the quarter fell about 6 percent, from $8.785 billion to $8.256 billion.
Overall, consensus was looking for EPS of $0.27 atop revs of $8.42 billion.
Chief Executive Officer Rupert Murdoch commented: "...News Corporation’s third quarter financial results faced challenging comparisons when set against last year’s record Avatar contribution at our Filmed Entertainment business...Looking beyond our film business, I am delighted with the continued and significant operational momentum of our channels businesses...I’m particularly pleased that our Television segment, viewed by the market just one year ago as a challenged business, more than quadrupled its earnings contributions over the prior year quarter."
Meanwhile, 9 percent owned BSkyB saw a decrease in equity earnings, from $176 to $108 million.
News Corp. shares are up just 0.1 percent post-market.
Net income for News Corp was $639 million, or $0.24 per share, a 24 percent drop from $839 reported in the same period last year. Excluding certain items, EPS ended up at $0.26 for the quarter.
Consolidated revenues in the quarter fell about 6 percent, from $8.785 billion to $8.256 billion.
Overall, consensus was looking for EPS of $0.27 atop revs of $8.42 billion.
Chief Executive Officer Rupert Murdoch commented: "...News Corporation’s third quarter financial results faced challenging comparisons when set against last year’s record Avatar contribution at our Filmed Entertainment business...Looking beyond our film business, I am delighted with the continued and significant operational momentum of our channels businesses...I’m particularly pleased that our Television segment, viewed by the market just one year ago as a challenged business, more than quadrupled its earnings contributions over the prior year quarter."
Meanwhile, 9 percent owned BSkyB saw a decrease in equity earnings, from $176 to $108 million.
News Corp. shares are up just 0.1 percent post-market.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Etsy upgraded to buy at BofA on durable growth, buyback potential
- Jefferies Downgrades Alfen (ALFEN:NA) (ALFNF) to Hold
- UBS Downgrades Vicinity Centers (VCX:AU) (CNRAF) to Neutral
Create E-mail Alert Related Categories
EarningsRelated Entities
Rupert Murdoch, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
