News Corp (NASDAQ:NWS) is expected to report a plunge in its profits and lower revenue as compared to the same period last year when it hands down its latest financial results.
The media conglomerate - whose assets include Fox News, New York Post, and The Wall Street Journal - is set to report its fourth-quarter fiscal 2023 results on Thursday, August 10.
The continued slowdown in advertising spending spurred by high interest rates and inflationary pressures is expected to have impacted revenue generation across its business during the quarter.
Analysts, on average, expect News Corp (NASDAQ:NWS) to report earnings per share (EPS) of $0.09, according to Zacks Consensus Estimate. This represents a decline of about 76% from EPS of $0.37 in the year-ago quarter.
Revenue is also expected to decline about 6.8% from $2.67 billion to $2.49 billion.
News Corp shares traded at US$20.78 at the close on Wednesday.
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