Andrew Burton | Getty Images News | Getty Images
Robert Thomson, CEO of News Corp, celebrates at the opening bell of the NASDAQ stock exchange in 2014.
News Corp. beat expectations in its second-quarter earnings report Thursday.
Here’s how the company did compared to what Wall Street expected:
- EPS: 24 cents vs. 19 cents expected, according to Thomson Reuters
- Revenue: $2.18 billion vs. $2.13 billion expected, according to Thomson Reuters
Shares of News Corp. were flat in after-hours trading, following a decline of more than 2 percent inside intraday session.
Founded by global media magnate Rubert Murdoch, News Corp. commands a host of major media assets, including HarperCollins, the completely new York Post along with financial mega-publisher Dow Jones, which owns The Wall Street Journal.
Digital revenues at Murdoch’s flagship newspaper continued to rise inside second quarter, signaling a continued shift away by print publication.
The company’s overall digital segment grew to 29 percent of all segment revenues inside quarter, up by 26 percent inside prior year. The Journal’s daily digital subscriber base rose 28.6 percent year over year, hitting 1,389,000.
Still, News Corp., like some other major media outlets, has felt a boost in overall subscribers during President Donald Trump’s often tumultuous first year inside White House.
Trump has shown a clear preference toward programming by Murdoch-owned Fox News. Even still, News Corp. properties have on occasion collided with his administration, which has had a contentious relationship with the press.
Trump, in an exclusive interview with the Journal, was quoted as saying “I probably have a not bad relationship with Kim Jong Un.” Days later, the White House asserted that will Trump had actually said “I’d probably have a not bad relationship with Kim Jong Un,” ultimately leading the Journal to Discharge a recording of the interview in its own defense.