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4-Traders Homepage  >  Equities  >  Nasdaq  >  News Corp    NWSA

NEWS CORP (NWSA)
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Delayed Quote. Delayed  - 07/17 10:00:00 pm
15.38 USD   -0.19%
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News Corp profit beats on digital real estate unit strength

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11/10/2017 | 12:33am CEST
The Fox News electronic ticker is seen outside the News Corporation building in New York City

(Reuters) - Wall Street Journal owner News Corp (>> News Corp) reported a better-than-expected quarterly profit on Thursday, driven by a tight control on expenses and growth in revenue across all its businesses.

(Reuters) - Wall Street Journal owner News Corp (>> News Corp) reported a better-than-expected quarterly profit on Thursday, driven by a tight control on expenses and growth in revenue across all its businesses.

News Corp said revenue in its rapidly growing digital real-estate unit, which includes REA Group Ltd (>> REA Group Limited), rose nearly 20 percent to $271 million.

Increased competition from digital media and a declining readership is driving print advertising down. Spending on print advertising in the U.S. is expected to fall 14 percent this year to about $18 billion, a third of what it was 10 years ago, according to media research firm Magna Intelligence. (http://bit.ly/2zJsXdP)

Major publishers have not been immune to eroding print ad sales. New York Times Co (>> New York Times Co) reported a 20.1 percent decline in print ad revenue in the latest quarter, while Chicago Tribune Media owner Tronc Inc (>> tronc Inc) posted an 18 percent fall.

News Corp, controlled by media mogul Rupert Murdoch, has been implementing various cost-cutting measures like reducing staff in its Dow Jones division, which includes the Journal, while boosting its digital real estate business to improve margins.

Operating expenses fell to $1.14 billion from $1.16 billion.

Revenue in the company's news and information division, which accounts for about two-thirds of total revenue, rose 1.6 percent to $1.24 billion in its first quarter.

Net income available to shareholders was $68 million, or 12 cents per share, in the first quarter ended Sept. 30, compared with a loss of $15 million, or 3 cents per share, a year earlier.

On an adjusted basis, the company earned 7 cents per share, beating the average analysts' estimate of a profit of 1 cent, according to Thomson Reuters I/B/E/S.

Total revenue rose 4.5 percent to $2.06 billion, beating analysts' estimate of $1.98 billion.

Thomson Reuters <TRI.N> (>> Thomson Reuters Corp) the parent of Reuters News, competes with Dow Jones Newswires.

(Reporting by Pushkala Aripaka and Divya Grover in Bengaluru; Editing by Shounak Dasgupta)

Stocks mentioned in the article
ChangeLast1st jan.
NEW YORK TIMES CO 0.19% 25.85 Delayed Quote.39.73%
REA GROUP LIMITED -0.62% 88.52 End-of-day quote.16.20%
THOMSON REUTERS CORP 0.29% 55.86 Delayed Quote.2.06%
TRONC INC -0.89% 18.87 End-of-day quote.7.28%
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Financials ($)
Sales 2018 8 696 M
EBIT 2018 529 M
Net income 2018 -1 115 M
Finance 2018 2 093 M
Yield 2018 1,48%
P/E ratio 2018 -
P/E ratio 2019 26,80
EV / Sales 2018 0,81x
EV / Sales 2019 0,65x
Capitalization 9 129 M
Chart NEWS CORP
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News Corp Technical Analysis Chart | NWSA | US65249B1098 | 4-Traders
Technical analysis trends NEWS CORP
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 10
Average target price 16,9 $
Spread / Average Target 9,5%
EPS Revisions
Managers
NameTitle
Robert James Thomson Chief Executive Officer & Director
Lachlan Keith Murdoch Non-Executive Chairman
Keith Rupert Murdoch Executive Chairman
Susan Lee Panuccio Chief Financial Officer
Marc Frons Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
NEWS CORP-5.12%9 129
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