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News Corp Posts $506M Net Profit

|Includes:FOXA, News Corporation (NWSA)

Originally published at www.seclive.com

Filing in Focus: News Corp 10-K, September 20, 2013

News Corp (NASDAQ:NWSA) published its first annual report since separating from 21st Century Fox (NASDAQ:FOXA) earlier this year. The company's profitability sharply increased to $506M, or $0.87 earnings per share, from a loss of $2.08B, or $3.58 losses per share. Company revenue increased 2.7% to $8.89B, though various segments of the company reported vastly different results. News Corp's UK publishing division reported a 6% increase while its Australian newspaper grew declined 15% due to decreases in ad revenue. Dow Jones & Company, the publisher of the Wall Street Journal, saw revenue decline 4% due to shifts from paper to online viewership as well as ad revenue. The company's strong results are also due in part to a $1.26B gain from the acquisition of Consolidated Media Holdings.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: NWSA, FOXA