WSJ parent reports earnings that beat expectations
The parent of the Wall Street Journal reported quarterly earnings that topped analysts’ expectations but fell short of revenue projections Wednesday, citing foreign currency fluctuations and lower advertising revenues.
Zack Guzman of CNBC reports that News Corp. “posted fiscal fourth-quarter earnings of 7 cents per share, compared to 1 cent in the year-earlier period, on $2.14 billion in revenue.
“Wall Street had expected News Corp. to deliver quarterly earnings per share of 5 cents on $2.19 billion in revenue, according to consensus estimates from Thomson Reuters.
“Shares of News Corp. were flat in extended-hours trading, but added 4 percent shortly after the earnings beat and notice of approving the company’s first semi-annual cash dividend of 10 cents per share.”
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