NEW YORK — News Corp. (NWSA) on Tuesday reported fiscal third-quarter earnings of $23 million.
On a per-share basis, the New York-based company said it had profit of 4 cents. Earnings, adjusted for non-recurring costs, were 5 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The publishing company whose flagship is The Wall Street Journal posted revenue of $2.06 billion in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $2.12 billion.
News Corp. shares have increased 2 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 1.5 percent. In the final minutes of trading on Tuesday, shares hit $16.02, a decrease of almost 8 percent in the last 12 months.
Keywords: News Corp., Earnings Report