News Corp Falls as Revenue Miss Sparks Publishing Concerns

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

More from Stocks

9 Stocks Goldman Sachs Thinks Will Blow Wall Street's Performance Away in 2019

9 Stocks Goldman Sachs Thinks Will Blow Wall Street's Performance Away in 2019

Trump, China Trade, Target and Las Vegas Casinos - 5 Things You Must Know

Trump, China Trade, Target and Las Vegas Casinos - 5 Things You Must Know

Quick Read: 3 Things for Investors to Know Before Wednesday's Trading Session

Quick Read: 3 Things for Investors to Know Before Wednesday's Trading Session

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around