U.S. Markets closed

News Corp. tops Street 1Q forecasts

NEW YORK (AP) _ News Corp. (NWSA) on Thursday reported fiscal first-quarter net income of $68 million, after reporting a loss in the same period a year earlier.

The New York-based company said it had net income of 12 cents per share. Earnings, adjusted for non-recurring gains, were 7 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The publishing company whose flagship is The Wall Street Journal posted revenue of $2.06 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.98 billion.

News Corp. shares have climbed 25 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 15 percent. In the final minutes of trading on Thursday, shares hit $14.36, a climb of 20 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NWSA at https://www.zacks.com/ap/NWSA