), and Media giant
) reported earnings after the bell today. Both posted mixed
News Corp posted an EPS of $0.01 below the Zacks Consensus Earnings
Estimate of $0.04, and well below the $0.48 EPS a year ago.
Revenues came in at $2.19 billion, just above the Zacks Consensus
Revenue Estimate of $2.179 billion, but lower than the year ago
number of $2.257 billion.
The major issue facing this publishing company is revenues from
advertising. After the earnings announcement, management
stated that advertising saw a decline in revenue in Q4 2014, and
more importantly they stated that revenues have declined 4% year
CBS Corp posted an EPS of $0.78, above the Zacks Consensus Earnings
Estimate of $0.72, and +2.6% above the year ago numbers. On
the Revenue side, CBS missed the Zacks Consensus Revenue Estimate
of $3.305 billion by posting Q2 2014 Revenues of $3.19 billion,
below the year ago revenues of $3.699 billion.
CBS management announced that they approved an increase in their
share buyback program; jumping from $3 billion to now $6
billion. Further, the company is increasing their dividend
payout by 25% from $0.12 per share to $0.15 per share. This would
indicate that their Free Cash Flow is very strong.
In afterhours trading, CBS is trading down just over 2% on mild
volume, and NWSA is up slightly (below 1%) on very light
volume. Tomorrow, Zacks will publish a detailed
earnings report on both companies.
Want more insights from Zacks? See our latest free report
5 Stocks to Double
Click here to receive this free report now
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
NEWS CORP NEW-A (NWSA): Free Stock Analysis
CBS CORP (CBS): Free Stock Analysis Report
To read this article on Zacks.com click here.