News Corp (NASDAQ:NWSA) earnings arrived to the public just after the market closed on Thursday afternoon. The media conglomerate showed earnings of $0.11 per share for the three months that began 2014. Revenue in the period, which News Corp records as its third quarter of the 2014 fiscal year, hit $2.08 billion. On Thursday’s market shares in the company suffered pessimistic anticipation and fell to close at $17.11.
In the run up to the release of these figures analysts following News Corp (NASDAQ:NWSA) were looking for earnings of 2 cents per share from the company according to a Businessweek survey of 8 analysts following the firm. The company’s recent split from 21st Century Fox Inc makes it difficult to compare year on year. The two firms went their separate ways on July 1 2013.
Earnings show confused New Corp
Newspapers are no longer the business they once were, but News Corp (NASDAQ:NWSA) is trying to leverage the power of its brands and talent to drive the future of the industry. The company is getting involved in experiments about the future of print journalism, and diversifying through acquisition.
A company trying to figure out where it’s going is not necessarily a weak one, but it certainly doesn’t appear strong. New Corp (NASDAQ:NWSA) needs to figure out the path it wants to follow an present its ideas to shareholders. Right now they’re skeptical of the firm’s future.
News Corp struggles by itself
Since beginning to trade independently last Summer shares in News Corp (NASDAQ:NWSA) have gained 7%, well behind the 15% gains in the S&P 500 in the same period. The company, which is concentrated in publishing, was always going to be the less dynamic and important of the two children of the older New Corp, and investors in the entity may be looking for their chance to grow.
Those investors will be able to challenge the company’s management about growth opportunities this afternoon during the company’s earnings conference call. The call is due to take place at 5:30 PM EDT. Investors and analysts will be looking for recognition of this afternoon’s numbers and paying close attention to the executives’ ideas about the year ahead.