The company, which owns The Wall Street Journal, reported net income of $12 million, or adjusted earnings of a penny a share. Revenue fell 3% year-over-year to $2.19 billion from $2.26 billion. Analysts polled by Thomson Reuters expected earnings of 3 cents a share on revenue of $2.17 billion.
A decrease in subscriptions and weaker advertising revenue led to the revenue decline.
The stock was down 4.94% to $16.56 at 11:04 a.m. More than 5.4 million shares changed hands, compared to the average volume of 3,204,620.NWSA data by YCharts