News Corp Tops Wall Street Estimates Due to Dow Jones and Real Estate Strength

News Corp saw revenue increases in divisions such as Dow Jones, its real estate company Move and book publishing in the year’s second quarter as the company beat Wall Street expectations.

The company’s stock was up 2.2% in after-hours trading.

Net income: $242 million, down 21% compared to $306 million last year. News Corp said the drop stemmed from its division REA Group’s sale of PropertyGuru the year prior.

Revenue: $2.36 billion, up 6% year over year, compared to $2.3 billion expected by analysts surveyed by Yahoo Finance.

Earnings per share: 34 cents per share on a diluted basis. On an adjusted basis, EPS was 40 cents, compared to 37 cents per share expected by analysts surveyed by Yahoo Finance.

More to come…

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