News Corporation Q3 Profit Decreases, but beats estimates

(RTTNews) - News Corporation (NWSA) released earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $30 million, or $0.05 per share. This compares with $50 million, or $0.09 per share, in last year's third quarter.

Excluding items, News Corporation reported adjusted earnings of $65 million or $0.11 per share for the period.

Analysts on average had expected the company to earn $0.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.2% to $2.42 billion from $2.45 billion last year.

News Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $30 Mln. vs. $50 Mln. last year. -EPS (Q3): $0.05 vs. $0.09 last year. -Revenue (Q3): $2.42 Bln vs. $2.45 Bln last year.