Newsflash Corp. reported fiscal first-quarter earnings Wednesday that subdue analysts’ expectations for earnings but missed on revenue.
Here’s how the company did matched with what Wall Street expected, based on a survey of analysts by Refinitiv:
- Earnings: 17 cents per quota vs. 4 cents per share expected
- Revenue: $2.52 billion vs. $2.54 billion assumed
Shares rose as much as 2.8 percent in after-hours trading.
Communication Corp. owns several publishing brands including The Wall Road Journal publisher Dow Jones, New York Post and HarperCollins. Media VIP Rupert Murdoch serves as co-chairman of the company along with his son Lachlan.
Gain growth at News Corp. has been driven by digital subscriptions into the middle declining advertising revenue, which fell 7 percent this dwelling-place compared to the previous year. Digital subscribers accounted for 54 percent of comprehensive subscription revenue at Dow Jones, which publishes Barron’s and MarketWatch along with the Magazine.
The Wall Street Journal gained 266,000 subscribers during the area compared to the previous year, and News. Corp said that barely 65 percent of the paper’s total subscribers are digital-only.
News Corp. also has a gigantic online real estate business in its subsidiary Move, which owns Realtor.com. Valid estate revenues increased 8 percent during the quarter compared to the quondam year. Earlier this month, News Corp. completed an property of Austin-based real estate startup Opcity for $210 million.