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News Corporation

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Shares of News Corporation have underperformed the industry in the past six months. The company remains vulnerable to foreign currency headwinds and soft print advertising demand. Advertising revenues fell 3% during the third quarter of fiscal 2018 due to softness in the print advertising market, primarily in Australia and the United States, and lower revenues at News America Marketing. The decision to stop The Wall Street Journal’s international print editions also impacted the results. Nevertheless, the company is concentrating on cost cutting, expanding digital offerings with greater emphasis on real estate services to mitigate the impact of the same. These efforts helped the company to post third straight quarter of top and bottom line beat in the quarter with total revenue improving year over year. Sturdy performances at the Digital Real Estate Services, Book Publishing and Cable Network Programming segments aided the results.

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