FX.co ★ News Corporation Q3 Profit Decreases, but beats estimates

News Corporation (NWSA) has announced its third-quarter earnings, which show a decrease compared to the same period from the previous year. However, the results surpassed predictions made by Wall Street analysts.

The firm reported a net income of $30 million, translating to a profit of $0.05 per share. This is in contrast to last year, wherein during the same quarter, the company made $50 million or $0.09 per share.

When excluding certain items, News Corporation posted an adjusted profit of $65 million, or $0.11 per share, for this quarter. This performance outpaced the average analyst prediction of $0.10 per share, as compiled by Thomson Reuters. These estimates typically don't account for special items.

However, the company's quarterly revenue dipped by 1.2%, falling to $2.42 billion from the previous year's figure of $2.45 billion.

To sum up the results for News Corporation, looking at generally accepted accounting principles (GAAP), for the third quarter, the earnings were $30 million compared to $50 million last year, the earnings per share landed at $0.05 against $0.09, and the revenue totaled $2.42 billion versus $2.45 billion from the same quarter of the previous year.