News Corp fiscal 2Q earns top expectations

February 6, 2014

News Corp., the publishing company controlled by Rupert Murdoch, reported second-quarter earnings that exceeded Wall Street forecasts while revenue declined as expected, reflecting slower advertising sales.

Net income in the three months through Dec. 31 amounted to $150 million, or 26 cents per share. That was less than the $1.40 billion in profit the company reported a year earlier, when it recorded a $1.3 billion gain from its acquisition of Australian pay TV company Consolidated Media Holdings.

Excluding charges for restructuring, a U.K. hacking probe and other matters, adjusted earnings were 31 cents per share, beating the 21 cents expected by analysts polled by FactSet.

Revenue fell 4 percent to $2.24 billion, in line with expectations.

Shares of the New York company rose 4.5 percent to $16.74 in after-hours trading.

Explore further: CBS 3Q profit grows, matches Wall St. expectations

Related Stories

IBM posts higher 4Q net income (Update)

January 21, 2014

IBM's fourth-quarter net income grew 6 percent, surpassing Wall Street's expectations even though revenue fell. Its shares fell in extended trading after the results came out—and CEO Ginni Rometty said she's recommending ...

EBay 4Q earnings, revenue up 13 percent

January 22, 2014

EBay is reporting higher earnings and revenue for the last three months of 2013, driven by a strong holiday season for its e-commerce site and PayPal.

Comcast gains video subs in 4Q

January 28, 2014

Comcast added 43,000 video subscribers in the fourth quarter—the first quarterly gain in six and a half years—as uptake of its X1 set-top box helped it retain customers and boost video-on-demand spending.

AT&T posts 4Q profit, higher revenue

January 28, 2014

AT&T is posting stronger-than-expected earnings for the final quarter of 2013, helped by higher revenue from mobile and Internet service subscribers.

Recommended for you

US ends bulk collection of phone data

November 30, 2015

The US government has halted its controversial program to collect vast troves of information from Americans' phone calls, a move prompted by the revelations of former intelligence analyst Edward Snowden.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.