{"id":51684,"date":"2017-11-10T06:47:46","date_gmt":"2017-11-10T06:47:46","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=51684"},"modified":"2017-11-10T06:47:46","modified_gmt":"2017-11-10T06:47:46","slug":"news-corp-profit-beats-on-digital-real-estate-unit-strength","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/news-corp-profit-beats-on-digital-real-estate-unit-strength.html","title":{"rendered":"News Corp profit beats on digital real estate unit strength"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"font-family: Arial,Helvetica,sans-serif;color: #000000\">News Corp profit beats on digital real estate unit strength<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial,Helvetica,sans-serif;font-size: 14pt;color: #000000\">News Corp profit beats on digital real estate unit strength: News Corp said revenue in its rapidly growing digital real-estate unit, which includes REA Group Ltd (REA.AX), rose nearly 20 percent to $271 million.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial,Helvetica,sans-serif;font-size: 14pt;color: #000000\">Increased competition from digital media and a declining readership is driving print advertising down. Spending on print advertising in the U.S. is expected to fall 14 percent this year to about $18 billion, a third of what it was 10 years ago, according to media research firm Magna Intelligence.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial,Helvetica,sans-serif;font-size: 14pt;color: #000000\">Major publishers have not been immune to eroding print ad sales. New York Times Co (NYT.N) reported a 20.1 percent decline in print ad revenue in the latest quarter, while Chicago Tribune Media owner Tronc Inc (TRNC.O) posted an 18 percent fall.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial,Helvetica,sans-serif;font-size: 14pt;color: #000000\">News Corp, controlled by media mogul Rupert Murdoch, has been implementing various cost-cutting measures like reducing staff in its Dow Jones division, which includes the Journal, while boosting its digital real estate business to improve margins.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial,Helvetica,sans-serif;font-size: 14pt;color: #000000\">Operating expenses fell to $1.14 billion from $1.16 billion.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial,Helvetica,sans-serif;font-size: 14pt;color: #000000\">Revenue in the company\u2019s news and information division, which accounts for about two-thirds of total revenue, rose 1.6 percent to $1.24 billion in its first quarter.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial,Helvetica,sans-serif;font-size: 14pt;color: #000000\">Net income available to shareholders was $68 million, or 12 cents per share, in the first quarter ended Sept. 30, compared with a loss of $15 million, or 3 cents per share, a year earlier.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial,Helvetica,sans-serif;font-size: 14pt;color: #000000\">On an adjusted basis, the company earned 7 cents per share, beating the average analysts\u2019 estimate of a profit of 1 cent, according to Thomson Reuters I\/B\/E\/S.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial,Helvetica,sans-serif;font-size: 14pt;color: #000000\">Total revenue rose 4.5 percent to $2.06 billion, beating analysts\u2019 estimate of $1.98 billion.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial,Helvetica,sans-serif;font-size: 8pt;color: #000000\">Source:http:\/\/www.reuters.com\/article\/us-news-corp-results\/news-corp-profit-beats-on-digital-real-estate-unit-strength-idUSKBN1D937K<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/news-corp-profit-beats-on-digital-real-estate-unit-strength.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>News Corp profit beats on digital real estate unit strength News Corp profit beats on digital real estate unit strength: News Corp said revenue in its rapidly growing digital real-estate unit, which includes REA Group Ltd (REA.AX), rose nearly 20 percent to $271 million. Increased competition from digital media and [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":51706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[36456,30054,30104,97859],"class_list":["post-51684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-best-usa-latest-business-updates-news","tag-current-business-updates-usa","tag-current-business-updates-usa-news","tag-news-corp-profit-beats-on-digital-real-estate-unit-strength"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/51684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=51684"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/51684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/51706"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=51684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=51684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=51684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}