News Corp Cl A (NWSA) said after close Thursday that it earned $0.16 per share in quarter one 2024. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $2.5 billion, beating estimates by $29 million.
In the same quarter a year ago, the company earned $0.12 per share on revenue of $2.5 billion.
The stock is down 2.49% to $20.76 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 73. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
News Corp is a media conglomerate with large presence in the U.S, the U.K., and Australia. Key brands include The Wall Street Journal, Herald Sun, and The Times. The company also has a strong presence in the Australian pay-TV market through Fox Sports and Foxtel (both 65%-owned), while its 62%-owned REA Group is the dominant real estate classified business in Australia.
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News Corp Cl A Down 2.49% To $20.76 After Earnings Beat
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