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News Summary: News Corp 1Q revenue, profit miss

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The Associated Press | November 11, 2013 08:04 PM EST | AP


MISSED ESTIMATES: News Corp. on Monday posted an unexpected revenue decline in its fiscal first quarter, pulled down by Australian newspapers. It was the first quarter since being spun off as a publishing-focused company in June from Twenty-First Century Fox Inc.

THE NUMBERS: Adjusted earnings came to $17 million, or 3 cents per share, below the 5 cents expected by analysts polled by FactSet. Revenue fell 3 percent to $2.07 billion. Analysts expected a 2 percent uptick to $2.18 billion.

SHARE ACTION: Shares fell 37 cents, or 2.1 percent, to $17.05 in extended trading after the results came out.