Boston, MA 08/11/2014 (wallstreetpr) – According to reports, the publisher of New York Post and The Wall Street Journal, News Corp. (NASDAQ:NWSA) has announced fiscal Q4 2014 earnings. Although NWSA did an effective cost management for the entire year, but still it posted lower earnings than the expectations.
Details of financial result:
Zacks Consensus Estimate gave a figure of 4 cents a share earnings for NWSA after looking significantly over the past one year, but the company could only manage to post earnings of 1 cent a share, 25% less than what markets experts anticipated. NWSA posted hefty earnings figure of 12 cents a share last year but couldn’t even come close to its past performance. The main reason behind its below expectations performance was the softness in company’s Australian Newspaper. The total revenue generated by the company during this period was $2,186 million, 3% less than the previous year’s revenues. It managed to beat Zacks Consensus Estimate of $2,179 million revenue.
NWSA’s Business Diversification:
News Corp. (NASDAQ:NWSA) is going through a transition phase and trying to variegate its revenue structure and digital properties via accretive acquisitions and product launches. After looking at the increased online video market, the company recently acquired online video maker and distributing company called Storyful. NWSA wanted to enhance its presence in online video offerings, and that’s the main reason it decided to take over Storyful. Other than it, NWSA also managed to complete Harlequin Enterprises Limited’s buyout from Torstar Corporation sometime back. Buying out Harlequin Enterprise was a strategic step taken by the company through which it wanted to deepen its roots in the field of women’s fiction in entire Europe and Asia Pacific.
It has a major shareholding (61.6%) in REA, a well known the digital real estate services company. Recently News Corp. (NASDAQ:NWSA) informed that REA has bought IProperty Group Limited’s 17.2% stake to diversify its online property advertising operations in Indonesia, Malaysia, Hong Kong, Singapore and Macau with investments in India and Philippines.
