News Corporation (NWSA) to Report Q1 Earnings: What's in Store?
News Corporation NWSA is set to report first-quarter fiscal 2024 results on Nov 9.
The Zacks Consensus Estimate for revenues is pegged at $2.49 billion, indicating an increase of 0.58% from the year-ago quarter’s reported level.
The consensus mark for earnings has been unchanged at 13 cents per share in the past 30 days.
The company’s earnings beat the Zacks Consensus Estimate twice in the last trailing four quarters, missing the mark twice. News Corporation has a trailing four-quarter earnings surprise of 5.39%, on average.
Let’s see how things have shaped prior to this announcement.
News Corporation Price and EPS Surprise
News Corporation price-eps-surprise | News Corporation Quote
Factors to Consider
Integration of OPIS and CMA is receiving strong demand from numerous industries like metal, sustainability, carbon plastics, renewables and biofuels. The yields are expected to rise, while retention is expected to be steady in the to-be-reported quarter.
The company’s continuous efforts to launch new products like carbon credit indices and work on more sophisticated analytics are likely to have driven customer base and retention in the to-be-reported quarter.
The demand for New York customer tools is expanding as governments globally continue to tighten regulations and wheeled sanctions. The trend is expected to have continued in the to-be-reported quarter.
In the fiscal fourth quarter, revenues of $2.43 billion decreased 9% year over year due to lower revenues at the Book Publishing segment, owing to a fall in book sales. The decline was also due to lower revenues at the Digital Real Estate Services segment because of continued challenging housing market conditions in the United States and Australia. The trend is expected to have continued in the to-be-reported quarter.
News Corporation will continue to assess opportunities to optimize its Digital Real Estate segment. The company is witnessing the continued impact of the macroeconomic environment on the housing market, including higher mortgage rates, which has led to lower lead and transaction volumes. This is expected to have weighed on top-line growth in the to-be-reported quarter.
The Book Publishing segment is expected to have borne the impact of lower book sales due to lower consumer demand industry-wide and weak frontlist performance in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here as you can see below.
News Corporation currently has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Per our model, Synopsys SNPS, Dell Technologies DELL and Snowflake SNOW have the right combination of elements to post an earnings beat in their upcoming releases.
Synopsys sports a Zacks Rank #1 and has an Earnings ESP of +0.94% at present. The company is scheduled to report fourth-quarter fiscal 2023 results on Nov 29. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 4.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Synopsys’ fourth-quarter earnings is pegged at $3.04 per share, indicating a year-over-year increase of 59.2%. The consensus mark for revenues is pegged at $1.58 billion, suggesting a year-over-year surge of 23.3%.
Dell sports a Zacks Rank #1 and has an Earnings ESP of +1.14% at present. The company is scheduled to report third-quarter fiscal 2024 results on Nov 30. Its earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, with the average surprise being 39.5%.
The Zacks Consensus Estimate for Dell’s third-quarter earnings is pinned at $1.47 per share, indicating a year-over-year decline of 36.1%. It is estimated to report revenues of $22.93 billion, which suggests a decrease of approximately 7.2% from the year-ago quarter.
Snowflake has a Zacks Rank #2 and an Earnings ESP of +15.71% at present. The company is slated to report third-quarter fiscal 2024 results on Nov 29. Snowflake’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 244.5%.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 15 cents per share, suggesting an increase of 36.4% from the year-ago quarter’s earnings of 11 cents. Snowflake’s quarterly revenues are estimated to grow 27.6% year over year to $710.5 million.
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Dell Technologies Inc. (DELL) : Free Stock Analysis Report
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