This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

News Corporation Reports First Quarter Earnings Per Share Of $0.94 On Net Income Attributable To Stockholders Of $2.23 Billion And First Quarter Total Segment Operating Income Of $1.38 Billion On Revenue Of $8.14 Billion

Stocks in this article: NWS NWSA

News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today reported total revenue for the three months ending September 30, 2012 of $8.14 billion, a $177 million, or 2%, increase over the $7.96 billion of revenue reported in the prior year quarter. The revenue increase was led by 16% growth at the Company’s Cable Network Programming segment, which was partially offset by declines at the Company’s Direct Broadcast Satellite Television and Publishing segments.

The Company reported first quarter total segment operating income (1) of $1.38 billion compared to $1.39 billion reported a year ago. The results reflect operating income improvements at the Company’s Cable Network Programing, Television and Filmed Entertainment segments, led by a $178 million, or 23%, increase at the Cable Network Programming segment. These improvements were more than offset by decreases at the Direct Broadcast Satellite Television, Publishing and Other segments. The first quarter results included a $67 million charge related to the costs of the ongoing investigations initiated upon the closure of The News of the World as compared to $17 million in the corresponding period of the prior year. This year’s first quarter results also included $5 million of costs related to the proposed separation of the Company’s entertainment and publishing businesses. Excluding these charges from both years, respectively, first quarter adjusted total segment operating income of $1.45 billion increased $48 million, or 3%, from $1.40 billion in the first quarter of the prior year.

The Company reported quarterly net income attributable to stockholders of $2.23 billion ($0.94 per share), compared to $738 million ($0.28 per share) reported in the corresponding period of the prior year. This quarter’s results included $1.38 billion of income in Other, net, principally reflecting a pre-tax gain on the sale of NDS as well as a $75 million pre-tax gain from the Company’s participation in British Sky Broadcasting’s (“BSkyB”) share repurchase program, which is reflected in Equity earnings of affiliates. These gains were partially offset by $152 million of pre-tax restructuring and impairment charges primarily related to the Company’s newspaper and digital games businesses. Excluding the net income effects of these items, the charges related to the investigations in the U.K. and the proposed separation of the Company’s entertainment and publishing businesses, along with comparable items in both years, first quarter adjusted earnings per share (2) was $0.43 compared with the adjusted prior year quarter result of $0.32.

Commenting on the results, Chairman and Chief Executive Officer Rupert Murdoch said:

1 of 9

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs