News Corp. is scheduled to report fiscal first-quarter earnings after the market close on Wednesday.
Here’s what Wall Street expects, based on a survey of analysts by Refinitiv:
- Earnings: 4 cents per share
- Revenue: $2.54 billion
News Corp. owns several publishing brands including The Wall Street Journal publisher Dow Jones, New York Post and HarperCollins. Media mogul Rupert Murdoch serves as co-chairman of the company along with his son Lachlan.
Revenue growth at News Corp. has been driven by digital subscriptions as advertising revenue continues to decline. Last quarter, digital subscribers accounted for 53 percent of overall subscription revenue at Dow Jones, which publishes Barron’s and MarketWatch along with the Journal.
Earlier this year, The Wall Street Journal website implemented a paywall powered by artificial intelligence, which determines how likely visitors are to subscribe and restricts content accordingly.
News Corp. also has a large online real estate business in its subsidiary Move, which owns Realtor.com. In August, News Corp. announced it would acquire Austin-based real estate startup Opcity for $210 million. The acquisition was completed earlier this month.
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