News Corp Beats Q4 Earnings Expectations, Misses On Sales, Stock Slides After Hours
Portfolio Pulse from Ryan Gustafson
News Corporation (NASDAQ:NWS) reported Q4 earnings of 14 cents per share, beating the analyst consensus estimate of nine cents, but a decrease of 62.16% from the same period last year. The company missed on sales, reporting $2.43 billion against the estimated $2.48 billion. Digital revenues accounted for over 50% of total revenues for the full year. The company's shares were trading lower after-hours.
August 10, 2023 | 8:40 pm
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News Corp's Q4 earnings beat estimates but sales missed, leading to a drop in after-hours trading. Digital revenues accounted for over 50% of total revenues for the full year.
News Corp's earnings beat could be seen as a positive sign, but the miss on sales and the decrease in earnings from the same period last year could be concerning to investors. This mixed report, along with the after-hours drop in share price, suggests a negative short-term impact on the stock.
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IMPORTANCE 80
RELEVANCE 100