News Corp. Meets First-Quarter Estimates

Author:: TSC Staff
Publish date:: Nov 8, 2000 5:20 PM EST

News Corp.

met Wall Street's expectations for the first quarter, as the company recorded growth in its film, cable and book publishing segments.

The company reported earnings before unusual items of $149 million, or 14 cents for each American depositary share. The company earned $165 million, or 16 cents for each ADR, a year ago. Analysts expected the company to earn 14 cents in the quarter, according to

First Call/Thomson Financial

News Corp. reported first-quarter consolidated revenue of $3.24 billion, up from $3.16 billion a year ago.

The company said that while its television performance was hurt by the effects of the Olympics, which aired on

NBC

, "we are strongly encouraged by the ratings gains across our network's entertainment programming."