(L to R) Rupert Murdoch, executive chairman of News Corp and chairman of Fox News, and Lachlan Murdoch, co-chairman of 21st Century Fox, walk together as they arrive on the third day of the annual Allen & Company Sun Valley Conference, July 13, 2017 in Sun Valley, Idaho.
News Corp is scheduled to report fourth quarter earnings Thursday after the bell. Here’s what Wall Street expects:
- EPS: 9 cents, according to Thomson Reuters
- Revenue: $2.1 billion, according to Thomson Reuters
Rupert Murdoch‘s News Corp owns names like HarperCollins, Dow Jones and the New York Post. An evolving digital media landscape and declines in advertising revenue have weighed on News Corp’s flagship business news outlet, The Wall Street Journal, as it has on numerous others in the industry.
The Journal announced last month it would continue restructuring the company to try and transform it into a digital-first operation. The news outlet’s editor-in-chief, Gerard Baker, told employees in a memo that newsroom’s staff size of about 1,300 jobs would stay “roughly stable.” The Journal started its reorganization last fall.
Despite struggles at the company’s media outlets, shares of News Corp have risen about 20 percent this year.