Based in New York City, News Corporation (NWSA) is a global media and information services industry leader. It is renowned for its diverse portfolio of brands and services. The brands include prominent names such as The Wall Street Journal, The Times, and HarperCollins. With a market cap of $15.56 billion, News Corporation is celebrated for its commitment to delivering high-quality journalism, innovative content, and comprehensive information solutions. NWSA is scheduled to announce its fiscal Q4 earnings results after the market closes on Thursday, Aug. 8.
Ahead of the event, analysts expect NWSA to report a profit of $0.15 per share, up 7.1% from $0.14 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
News Corp's adjusted earnings of $0.11 per share for the last reported quarter surpassed the consensus estimate by 10%. Effective cost management and robust digital real estate services contributed to the company's earnings, beating expectations.
For fiscal 2024, analysts expect NWSA to report EPS of $0.67, up 36.7% from $0.49 in fiscal 2023.
NWSA stock is up 10.6% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 13.2% gains and the Communication Services Select Sector SPDR ETF’s (XLC) 13.1% returns over the same time frame.
On May 23, NWSA stock saw a rise of over 2% following the announcement of a multi-year agreement to provide its news content to OpenAI. On May 29, NWSA entered a multi-year deal with OpenAI to share news content for training purposes and user queries, potentially worth over $250 million.
The consensus opinion on NWSA stock is bullish, with an overall “Strong Buy” rating. Six analysts covering the stock advise a “Strong Buy” rating. NWSA's average analyst price target is $33.20, indicating a potential upside of 22.3% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
