News Corp. lowers FY13 net income growth view

February 6, 2013

On News Corp.'s (NWSA) Q2 earnings conference call, management lowered its FY13 net income growth view to mid-to-high single-digits from its prior view of high single to low double-digits. They cited poor expectations at SKY Italia, Fox Network, and Australian Papers. Despite the weaker guidance, they said the second quarter results reflected continued solid growth at its cable networks. This segment continues to drive overall company results, generating 60% of News Corporation's total segment operating income. Management said they were highly focused in addressing the company's challenges and also noted great momentum in its broader businesses.