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.