News Corp (NWSA) Stock Down After Earnings Miss
NEW YORK (TheStreet) -- News Corp (NWSA) - Get Report stock is down by 0.33% to $15.30 in early-morning trading on Friday, after the company's fiscal 2016 first quarter earnings results missed expectations.
After the market close on Thursday, the New York City-based media company, which owns the Wall Street Journal, reported first quarter adjusted earnings of 5 cents per share.
Revenue decreased to $2.01 billion compared to $2.11 billion for the same quarter in the prior year.
Analysts surveyed by Thomson Reuters estimated that the company would report earnings of 6 cents per share on revenue of $2.09 billion.
"News Corp is on track in its transition to a more digital and global future, having successfully integrated several recent acquisitions and built a powerful platform for future growth," CEO Robert Thomson said in a statement.
The company's digital expertise has been benefited by the acquisitions of Realtor.com, Unruly and Checkout51, News Corp said.
Separately, TheStreet Ratings team rates NEWS CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate NEWS CORP (NWSA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: NWSA
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