NEW YORK — News Corp. (NWSA) on Thursday reported fiscal first-quarter profit of $175 million.
On a per-share basis, the New York-based company said it had profit of 30 cents. Earnings, adjusted for non-recurring gains and to account for discontinued operations, were 5 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The publishing company whose flagship is The Wall Street Journal posted revenue of $2.01 billion in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $2.11 billion.
News Corp. shares have declined 2 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 2 percent. In the final minutes of trading on Thursday, shares hit $15.35, climbing slightly in the last 12 months.
Keywords: News Corp., Earnings Report