Media Earnings: NWSA, TWC, VIA.B Thursday, August 5, 11:31 AM ET
After the bell yesterday, News Corp. (NASDAQ:NWSA) reported strong fiscal fourth quarter earnings of $875 million, or 33 cents per share as revenue rose six percent. These numbers easily topped Wall Street estimates and has the stock poised for a strong day. The company said the bulk of its earnings came from its cable division which saw healthy rebounds in advertising revenue and this should bode well for the company as the economy continues to improve.
Also reporting earnings was Time Warner Cable (NYSE:TWC). The cable company earned $342 million on revenues of $4.73 billion. Results beat analysts' estimates as the company saw revenue increase across its TV, phone and Internet segments despite a drop in the number of video subcribers. At quarters end, Time Warner Cable said it had 12.7 million subscribers. Despite the strong results, investors remained unimpressed so far as the stock has ticked lower by a few tenths of a percent.
And Sumner Redstone's Viacom (NASDAQ:VIA) saw earnings climb more than 50% in the second quarter, coming in at $420 million and topping Wall street estimates. The company reported revenue of $3.3 billion as its cable TV stations reported an increase, but its film unit Paramount reported a decline. Overall, investors were disappointed with the report as shares look to trade lower this morning.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.