Categories: OLD Media Moves

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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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.