Categories: OLD Media Moves

WSJ parent reports earnings that miss expectations

News Corp., the parent of The Wall Street Journal, Barron’s and Marketwatch.com, reported fourth quarter earnings that fell below analyst expectations.

The company reported earnings, minus some items, of 1 cent per share. Analysts were expecting earnings of 3 cents per share.

Edmund Lee of Bloomberg News writes, “The news division, which publishes the Wall Street Journal and the New York Post in the U.S., continued to face difficulty at a time when advertising is fleeing print in favor of digital destinations. Sales in the division fell 6.3 percent to $1.56 billion as advertising revenue weakened.

“Shares of News Corp. fell 1.2 percent to $17.42 at the close in New York.

“Net income was $13 million, or 2 cents a share, compared with a loss of $1.12 billion, or $1.94, a year earlier.”

Read more here.

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.