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News Corp’s Q3 Earnings Surge 47%, Easily Beating Expectations (NWSA)

By Dividend.com,  May 09, 2012, 04:37:27 PM EDT

Mass media giant News Corp ( NWSA ) late Wednesday posted fiscal third quarter earnings that easily beat out analysts' expectations, sending its shares higher in aftermarket trading.

The New York-based company reported fiscal third quarter net income of $937 million, or 38 cents per share, compared with $639 million, or 24 cents per share, in the year-ago period. Excluding special items, adjusted profit was 37 cents per share.

Revenue rose 2% from last year to $8.4 billion.

On average, Wall Street analysts expected a much smaller profit of 31 cents per share, on lower revenue of $8.25 billion.

News Corp shares closed slightly higher in Wednesday trading, but the stock was indicated much higher in aftermarket action.

The Bottom Line
Shares of News Corp ( NWSA ) have a .88% dividend yield, based on today's closing stock price of $19.38. The stock has technical support in the $17-$18 price area. If the shares can firm up, we see overhead resistance around the $20-$22 price levels.

News Corp ( NWSA ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: NWSA



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