News Corp Earnings Boosted by Tax Benefit
06 Novembre 2015 - 12:00AM
Dow Jones News
News Corp boosted its net income for the September quarter
because of a one-time tax benefit, but revenue fell 4% as foreign
currency fluctuations and weakness in print advertising weighed on
the media company's results.
News Corp owns The Wall Street Journal, among other
publications.
Net income from continuing operations attributable to
shareholders rose to $175 million, or 22 cents a share, from $65
million, or 15 cents a share, in the same period a year earlier,
the company said. Excluding certain items, such as a $151 million
tax benefit from the sale of the digital-educations business,
adjusted earnings were 5 cents a share.
Revenue declined to $2.01 billion from $2.11 billion a year
earlier, driven by an 11% drop in revenue at the news and
information services segment, which accounts for two-thirds of News
Corp's total revenue.
Analysts polled by Thomson Reuters had expected total revenue of
$2.09 billion in the quarter and adjusted per-share earnings of 6
cents.
"News Corp is on track in its transition to a more digital and
global future, having successfully integrated several recent
acquisitions and built a powerful platform for future growth," News
Corp Chief Executive Robert Thomson said in a news release.
Earnings before interest, taxes, depreciation and amortization
declined 15% in the period to $165 million because of declines at
the news and information services segment, higher legal costs at
News America Marketing, and declines at the book publishing
segment.
Write to Lukas I. Alpert at lukas.alpert@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 05, 2015 17:45 ET (22:45 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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