NEW YORK (TheStreet) -- News Corp (NWSA), owner of the Wall Street Journal, was falling in post-market trading as the publishing company posted sales that missed analyst forecasts, sparking investor concern about its legacy print business.
News Corp., controlled by Rupert Murdoch, reported $2.07 billion in revenue for the New York-based company's fiscal first quarter, falling short of an average $2.18 billion estimate of eight analysts surveyed by Bloomberg. News Corp., which was reporting its first full quarter since splitting its film and television businesses in June into 21st Century Fox (FOXA), said that free cash flow for the quarter was negative $10 million.
Shares were falling 2.4% to $17.01 in post-market trading after closing at $17.42. News Corp has gained 10% since the company began trading separate shares from 21st Century Fox on June 19.
--By Leon Lazaroff in New York
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV