News Corporation Q3 Profit Decreases, but beats estimates

(RTTNews) - News Corporation (NWSA) revealed earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $50 million, or $0.09 per share. This compares with $82 million, or $0.14 per share, in last year's third quarter.

Excluding items, News Corporation reported adjusted earnings of $53 million or $0.09 per share for the period.

Analysts on average had expected the company to earn $0.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.0% to $2.45 billion from $2.50 billion last year.

News Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $50 Mln. vs. $82 Mln. last year. -EPS (Q3): $0.09 vs. $0.14 last year. -Analyst Estimates: $0.05 -Revenue (Q3): $2.45 Bln vs. $2.50 Bln last year.