News Corp. Q3 Profit Declines - Quick Facts

(RTTNews) - News Corp. (NWS, NWSA) reported third-quarter net income available to stockholders of $48 million compared to $323 million prior year, which included a non-taxable gain on the SKY Network Television Ltd. transaction. Net income per share was $0.08 compared to $0.56. Adjusted net income available to stockholders was $66 million compared to $73 million prior year. Adjusted earnings per share was $0.11, for the quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.03 for the quarter. Analysts' estimates typically exclude special items.

Total revenues of $2.08 billion, a 5% decrease as compared to the prior year third quarter revenues of $2.18 billion. The company said the majority of its revenue decline reflects foreign currency fluctuations, lower advertising revenues at the News and Information Services segment and the sale of the Dow Jones Local Media Group, partially offset by the strength in the Book Publishing and Digital Real Estate Services segments. Analysts expected revenue of $2.07 billion for the quarter.