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News Corporation (NWSA) to Report Q3 Earnings: What's in Store?

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News Corporation (NWSA - Free Report) is set to report third-quarter fiscal 2023 results on May 11.

The Zacks Consensus Estimate for revenues is pegged at $2.4 billion, indicating a decrease of 3.76% from the year-ago quarter’s levels.

The consensus mark for earnings has moved south by 1 cent in the past 30 days and is currently pegged at 6 cents per share.

The company’s earnings beat the Zacks Consensus Estimate once in the last trailing four quarters, missing the mark thrice. News Corporation has a trailing four-quarter earnings surprise of 34.14%, on average.

Let’s see how things have shaped prior to this announcement.

News Corporation Price and EPS Surprise

News Corporation Price and EPS Surprise

News Corporation price-eps-surprise | News Corporation Quote

Factors to Consider

Integration of OPIS and CMA is receiving strong demand from numerous industries like metal, sustainability, carbon plastics, renewables and biofuels. The yields are expected to rise while retention is expected to be strong in the to-be-reported quarter.

The company’s continuous efforts to launch new products like carbon credit indices and work on more sophisticated analytics are likely to have driven customer base and retention in the to-be-reported quarter.

In the second quarter, revenues were $2.52 billion, down 7% year over year. This decrease was mainly due to foreign currency fluctuations, lower book sales and revenues in the Digital Real Estate Services segment. The trend is expected to have continued in the to-be-reported quarter.

The demand for New York customer tools is expanding as governments globally continue to tighten regulations and wheeled sanctions. The trend is expected to have continued in the to-be-reported quarter.

News Corporation withdraws the proposal of the potential combination with Fox Corporation in the to-be-reported quarter. This combination was not found optimal for shareholders by NWSA’s board of directors.

In the third quarter, News Corporation announced that it will no longer engage in discussions with CoStar Group for a potential sale of Move, Inc. News Corporation will continue to assess opportunities to optimize its Digital Real Estate segment. This is expected to have boosted the top line in the to-be-reported quarter.

What Our Model Says

Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here as you can see below.

News Corporation currently has an Earnings ESP of -47.06% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks to Consider

Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.

Cisco (CSCO - Free Report) has an Earnings ESP of +1.59% and carries a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Cisco is set to report its third-quarter fiscal 2023 results on May 17. The Zacks Consensus Estimate for CSCO’s earnings is pegged at 97 cents per share, suggesting an increase of 11.49% from the prior-year period’s reported figure.

Agilent (A - Free Report) has an Earnings ESP of +0.40% and a Zacks Rank #2 at present.

Agilent is scheduled to release its second-quarter 2023 results on May 23. The Zacks Consensus Estimate for A’s earnings is pegged at $1.27 per share, suggesting an increase of 12.39% from the prior-year quarter’s reported figure.

Deere & Company (DE - Free Report) has an Earnings ESP of +6.75% and a Zacks Rank #2 at present.

Deere & Company is scheduled to release first-quarter 2023 results on May 19. The Zacks Consensus Estimate for DE’s earnings is pegged at $8.51 per share, indicating an increase of 24.96% from the prior-year quarter’s reported figure.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


 

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