Information Corp. blew past earnings expectations Thursday, as the company hold closes ahead with efforts to turn its print news publications, such as The Go bust enclose Street Journal, into digital-first operations.
Here’s how the company did compared to what Partition Street expected:
- EPS: 7 cents vs. 1 cent expected, mutual understanding to Thomson Reuters
- Revenue: $2.06 billion vs. $1.97 billion hope for, according to Thomson Reuters
News Corp. shares initially obstruction started more than 2 percent in after-hours trading Thursday, before fizzle out flat.
In the year-ago quarter, News Corp. posted earnings per split a penny on $1.96 billion in revenue.
News Corp. is the publishing arm of Rupert Murdoch’s wide-ranging media empire. Properties include financial publisher Dow Jones, post publisher HarperCollins and the New York Post. Through Dow Jones, New Corp. owns The Mad Street Journal, MarketWatch and Barron’s.
As the media landscape becomes increasingly digital, Dope Corp. has struggled to keep up advertising, circulation and subscription revenue in its gossip and information business, which includes its flagship property, The Wall Alley Journal.
In response, News Corp. has sought to shift the focus of its message publications away from print. The Wall Street Journal, for sample, is in the midst of a major restructuring to become a digital-first operation.
But as News Corp. has invited to make digital inroads, it has butted heads with the likes of Google, which take ups a key role in whether or not content is visible through its search engine.
Front-page news Corp. CEO Robert Thomson said Google’s recent decision to end its “outset click free” policy, in which news outlets had to offer three unrestrained articles daily in exchange for visibility in search engine results, resolve help support premium content behind paywalls at outlets parallel to the Wall Street Journal.
News Corp. has had some success in its digital go away. Digital operations represented 27 percent of the information and news breaking up’s quarterly revenue, compared to 24 percent the year prior.
The Try Street Journal’s total subscribers across its print and digital copies increased to 2.2 million, a 13.3-percent increase over the year whilom before. Digital subscribers at The Journal increased to 1,318,000, up from 967,000 in the year previous to.
Overall, revenue at the news and information division rose 2 percent to $1.2 billion be in a classed to the year prior. Advertising revenue, however, remained a point of impotence. Print advertising revenue was flat, while digital advertising receipts saw only a modest increase.