News Corp: Q1 EPS below estimates
(CercleFinance.com) - On Thursday evening, News Corp posted a Q1 net loss of 39 cents per share, against EPS of 17 cents a year ago.
However, adjusted EPS reached four cents, one less than the consensus.
The media group reported a 38% fall in EBITDA at 221 million dollars, for revenues that are down 7% to 2.34 billion dollars, due to adverse FX factors and the absence of extraordinary gains made after the group's exit from Sun Bets a year ago.
News Corp says it has signed a multi-year content partnership with Facebook in October for the Wall Street Journal, Barron's Media Group and the New York Post, which will generate additional EBITDA and revenue.
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However, adjusted EPS reached four cents, one less than the consensus.
The media group reported a 38% fall in EBITDA at 221 million dollars, for revenues that are down 7% to 2.34 billion dollars, due to adverse FX factors and the absence of extraordinary gains made after the group's exit from Sun Bets a year ago.
News Corp says it has signed a multi-year content partnership with Facebook in October for the Wall Street Journal, Barron's Media Group and the New York Post, which will generate additional EBITDA and revenue.
Copyright (c) 2019 CercleFinance.com. All rights reserved.