Needham & Company Maintains a 'Hold' on News Corp. (NWSA); 1Q12 Earnings Preview

Needham & Company maintains a 'Hold' on News Corp. (NASDAQ: NWSA).

Needham analyst says, "For the full fiscal year ending June 30, 2012, we are lowering our revenue estimate slightly (by 0.5%) to $34.05B to reflect less aggressive growth assumptions in the Cable Network division, and we also lower “Other” revenue to reflect the sale of MySpace. This is more than offset by a lower tax rate assumption for FY12 (down from 33% to 32%), resulting in an increase in our FY12 EPS estimate to $1.32 (from $1.29)."

For more ratings news on News Corp. click here and for the rating history of News Corp. click here.

Shares of News Corp. closed at $16.25 yesterday.

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