News Corporation Q3 results top estimates

Investing.com -- News Corporation reported Thursday fiscal third-quarter results that topped estimates despite slowing advertising revenue.

News Corp A (NASDAQ: NWSA) was up 1.7% in after-hours trading following the report.

Newscorp reported adjusted EPS of $0.09 on revenue of $2.45 billion, beating Wall Street estimates of $0.05 on revenue of $2.39B, respectively.

Looking ahead, the company said its cost reduction drive, which includes cutting about 5% of its workforce, was expected to yield at least $160 million in annualized savings by the end of this calendar year.

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