News Corp.: Fiscal 4Q Earnings Snapshot
NEW YORK (AP) _ News Corp. (NWSA) on Thursday reported a loss of $371 million in its fiscal fourth quarter.
The New York-based company said it had a loss of 64 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The publishing company whose flagship is The Wall Street Journal posted revenue of $2.69 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $2.31 billion.
For the year, the company reported that its loss widened to $1.51 billion, or $2.60 per share. Revenue was reported as $9.02 billion.
News Corp. shares have fallen nearly 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 7 percent. In the final minutes of trading on Thursday, shares hit $15.26, a rise of roughly 8 percent in the last 12 months.