News Corporation Q1 Profit Decreases, misses estimates

(RTTNews) - News Corporation (NWSA) announced a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $40 million, or $0.07 per share. This compares with $196 million, or $0.33 per share, in last year's first quarter.

Excluding items, News Corporation reported adjusted earnings of $69 million or $0.12 per share for the period.

Analysts on average had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.8% to $2.48 billion from $2.50 billion last year.

News Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $40 Mln. vs. $196 Mln. last year. -EPS (Q1): $0.07 vs. $0.33 last year. -Analyst Estimates: $0.15 -Revenue (Q1): $2.48 Bln vs. $2.50 Bln last year.