Global media and publishing company News Corp (NASDAQ:NWSA) will be reporting results this Wednesday after the bell. Here’s what investors should know.
News Corp beat analysts’ revenue expectations last quarter, reporting revenues of $2.34 billion, up 10.8% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is News Corp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting News Corp’s revenue to grow 6.1% year on year, improving from the 2.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. News Corp rarely misses Wall Street’s revenue estimates.
Looking at News Corp’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Scholastic’s revenues decreased 3.9% year on year, missing analysts’ expectations by 3.5%, and Hilton Grand Vacations reported revenues up 50.8%, topping estimates by 39.5%. Scholastic traded down 7.1% following the results while Hilton Grand Vacations was up 8.2%.
Read our full analysis of Scholastic’s results here and Hilton Grand Vacations’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 5.7% on average over the last month. News Corp is up 2.4% during the same time and is heading into earnings with an average analyst price target of $36.03 (compared to the current share price of $29.66).
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