News Corporation Q1 Profit Decreases, but beats estimates

(RTTNews) - News Corporation (NWSA) released a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $30 million, or $0.05 per share. This compares with $40 million, or $0.07 per share, in last year's first quarter.

Excluding items, News Corporation reported adjusted earnings of $90 million or $0.16 per share for the period.

Analysts on average had expected the company to earn $0.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

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

News Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $30 Mln. vs. $40 Mln. last year. -EPS (Q1): $0.05 vs. $0.07 last year. -Analyst Estimates: $0.10 -Revenue (Q1): $2.50 Bln vs. $2.48 Bln last year.