10 Updates

News Corp Beats The Street Despite Advertising Sales Tumble

Feb 6 2014, 3:43pm CST | by

News Corp beat Wall Street earnings estimates for its 2014 second quarter on Thursday, sending the stock up in after hours trading — despite substantial declines in advertising revenue across the...

Filed under: news

 
 
 

23 weeks ago

News Corp Beats The Street Despite Advertising Sales Tumble

Feb 6 2014, 3:43pm CST | by

News Corp beat Wall Street earnings estimates for its 2014 second quarter on Thursday, sending the stock up in after hours trading — despite substantial declines in advertising revenue across the majority of the company’s news business.

News Corp reported earnings per share of $0.31 against consensus estimate of $0.20, and revenues for the quarter of $2.24 billion, squeaking $100 million higher than the estimates. Investors like to hear that, but the beat was largely due to pessimistic outlook on behalf of analysts, who expected even larger declines in ad sales. Overall, the company’s revenue dropped 4% from the same quarter last year.

“The earnings report demonstrates a measure of progress as we navigate a challenging advertising market,” CEO Robert Thomson said in a statement. “The digital transformation is certainly underway, as the acquisition of Storyful and the robust growth in digital sales at HarperCollins attest. Digital subscriptions and website traffic are on the rise at most of our sites, and revenue at REA, the online real estate company, continues to expand encouragingly.”

Challenging advertising market indeed. Sales at the company’s largest division, News and Information Services, fell 9% year over year. EBITDA also fell 13% in that segment. Australian newspapers, where revenues dropped 17% (10% related to foreign currency), were the weakest performers. Circulation and subscription sales were down too, with Dow Jones the primary cause of that. Gains in book publishing and digital real estate couldn’t make up those losses.

News Corp stock, which was up 2.29% during the day, bumped up another 1.40% in after hours trading as of 4:30pm EST.

Follow Brian on Facebook  and Twitter .

2014 30 Under 30: Marketing & Advertising

Source: Forbes Business

 
Update
10

6 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

Cambodia's Famous Battambang Circus
KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan R ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

6 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

Newcastle United Training Session
KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into by ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

6 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

Federal Aviation Administration Bans All US Flights To Israel
KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by the Dewan Rakyat t ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

6 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

6 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

INDIA-CHINA-DIPLOMACY-TRADE
PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the southern states last month. ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

6 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

Government Weekly Cabinet Meeting
KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million in compe ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

6 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri M ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

Iskandar Johor Open - Previews
JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allocation o ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

EurAsia Cup presented by DRB-HICOM - Day One
PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion K ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Monitor pulse after stroke to avoid second
New York, July 24 (IANS) Regularly monitoring your pulse after a stroke or the pulse of a loved one who has experienced a stroke can prevent a second stroke.
 
 
Goggles that can see through fog
London, July 24 (IANS) For pilots who often face adverse weather conditions like fog, torrential rain, snow and dust storms, this goggles can help them take off and land with ease.
 
 
Antarctic fish might survive ocean warming: Study
Wellington, July 24 (IANS) A species of Antarctic fish might be able to survive the predicted warming of its native waters over the next century if the warming is gradual enough, according to a New Zealand scientist.
 
 
Brain next frontier to treat obesity
Washington, July 24 (IANS) Therapies aimed at areas of the brain responsible for memory and learning could lead to better treatment of obesity and dementia, says a study.
 
 
 

Latest from the Network

The Rise And Fall Of NASCAR At Indy
This weekend is the latest running of NASCAR’s Brickyard 400 (officially the Crown Royal Presents the John Wayne Walding 400 at the Brickyard powered by BigMachineRecords.com) at the Indianapolis Motor Speedway. Almost...
Read more on Auto Balla
 
Amy Winehouse's mother approves of tributes
Amy Winehouse's mother thinks cigarettes and empty alcohol bottles are ''fitting'' tributes to her daughter. Fans flocked to the late 'Back to Black' star's former London home yesterday (07.23.14) to pay their respects...
Read more on Celebrity Balla
 
Tori Spelling hopes woes will teach children
Tori Spelling hopes her marriage problems will teach her children a lesson. The 'True Tori' star was left devastated when husband Dean McDermott - with who she has children Liam, seven, Stella, six, Hattie, two, and 22-...
Read more on Celebrity Balla
 
Zac Efron enjoys night with Robert Pattinson
Zac Efron and Robert Pattinson were in ''really good moods'' on a night out together. The Hollywood hunks enjoyed an evening with seven pals at Pinz Bowling Alley in California, followed by drinks in nightspot Bootsy...
Read more on Celebrity Balla
 
Mark Salling dating Denyse Tontz
Mark Salling is dating 'Big Time Rush' star Denyse Tontz. The 31-year-old 'Glee' actor confirmed his relationship with the 19-year-old actress and is looking forward to ''making magic'' with the starlet. He told Us...
Read more on Celebrity Balla
 
Monitor pulse after stroke to avoid second
New York, July 24 (IANS) Regularly monitoring your pulse after a stroke or the pulse of a loved one who has experienced a stroke can prevent a second stroke. Screening the pulse is the method of choice for checking...
Read more on Apple Balla
 
Goggles that can see through fog
London, July 24 (IANS) For pilots who often face adverse weather conditions like fog, torrential rain, snow and dust storms, this goggles can help them take off and land with ease. An Israeli company Elbit Systems has...
Read more on Apple Balla
 
Antarctic fish might survive ocean warming: Study
Wellington, July 24 (IANS) A species of Antarctic fish might be able to survive the predicted warming of its native waters over the next century if the warming is gradual enough, according to a New Zealand scientist....
Read more on Apple Balla
 
Nepal geared up for Sushma Swaraj's visit
Kathmandu, July 24 (IANS) India's External Affairs Minister Sushma Swaraj arrives here Friday for a three-day visit - the first high-level visit from the new Indian government - where the Nepal-India Joint Commission...
Read more on Politics Balla
 
Brain next frontier to treat obesity
Washington, July 24 (IANS) Therapies aimed at areas of the brain responsible for memory and learning could lead to better treatment of obesity and dementia, says a study. "This is a novel way for health care providers...
Read more on Apple Balla