News Corporation reported dismal 3Q09 earnings as expected. Revenues were light of expectations but EPS were in line after adjusting for several large, one-time items. In the reported numbers, the story is the collapse in profitability at Television (operating income -99%), newspapers (-97%), Sky Italia (-35%) and book publishing (from profit to loss). There is […]
News Corporation will report a dismal March quarter. EPS and EBITDA will declines 50% or more. The good news is this should be the worst quarter this cycle. That is certainly what investors seem to be saying as NWSA shares have rallied 84% off their March lows including 20% since media earnings season kicked off […]
News Corporation shares traded down 4.6% on Monday in response to a downgrade from Bernstein Research analyst Michael Nathanson. Nathanson lowered his rating from outperform to market perform, cut his price target from $24 to $21, and lowered his earnings estimate by 7% for FY08 and 4% for FY09. Prior to this downgrade, Nathanson shared […]
Controversy about monetization of revenue and profits at MySpace has held back shares of News Corp so far this year despite outstanding December quarter earnings, increased guidance for the fiscal year ending this June, and commentary from Rupert Murdoch and other senior executives stating that so far the company is feeling any impact from the […]
News Corporation has sat out this week’s rally, falling about 2%. I think the problem is fear over a bid for Yahoo. These fears persist despite very strong denials of interest from Rupert Murdoch and Peter Chernin on the quarterly conference call just ten days ago. The latest rumor is some sort of joint bid […]
News Corporation reported excellent third quarter beating consensus estimates on EPS, revenue, and operating income. Strength was virtually across the board with every segment beating estimates on the operating income line. Topping off the good news, operating income growth guidance was raised from low teens to mid teens. On the call management addressed the two […]
I anticipate a strong quarter from News Corporation after the close on Monday and a positive reaction from the market. The stock jumped 3% on Friday as investors began to look ahead to earnings and considered the impact of the Yahoo-Microsoft deal on MySpace. I think plenty of upside remains in the near-term and long-term […]
I anticipate a strong quarter from News Corporation after the close on Monday and a positive reaction from the market. The stock jumped 3% on Friday as investors began to look ahead to earnings and considered the impact of the Yahoo-Microsoft deal on MySpace. I think plenty of upside remains in the near-term and long-term […]
Back in July, I wrote a review of News Corporation for RealMoney.com outlining the bull case. The analysis remains relevant today so in light of the purchase of News Corporation shares for Northlake clients earlier this week, I am reproducing the article so you can learn more about this new holding…. I like News Corporation […]
Looks like a real good quarter for News Corporation. Results for 1Q08 are ahead of expectations. This should be very comforting for shareholders as the year was supposed to backend loaded. Revenues grew 19%, well ahead of the 9% gain expected. The revenue upside translated to profits as operating income rose 23% vs. expectations for […]
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