News Corp profit falls as company hit by sluggish Australian economy

Original article by Zoe Samios
The Sydney Morning Herald – Page: Online : 7-Feb-20

News Corporation has released its financial results for the three months to December, reporting a profit of $US103 million ($153.1 million). This compares to a profit of $US119 million in the prior year period, while revenue was down six per cent to $US2.48 billion, with the Rupert Murdoch-controlled company blaming the torpid Australian economy for the decline. Revenue for news and information services fell $16 million, with the Australian market down nine per cent. Subscriber numbers for Foxtel, which includes streaming services Foxtel Now and Kayo, declined from 3.065 million at the end of the September quarter to 2.95 million at the end of the December quarter.

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, FOXTEL NOW, KAYO SPORTS

Margin pressures put squeeze on US outlook

Original article by David Rogers
The Australian – Page: 27 : 10-Apr-19

The S&P 500 has gained 23 per cent since late December 2018, and it is close to a record high. However, some observers expect the S&P 500 to record year-on-year negative earnings growth in the March 2019 quarter, for the first time in about three years. Michael Wilson of Morgan Stanley and Tobias Levkovich of Citigroup are upbeat about the earnings outlook for the March quarter, but they are cautious about the outlook for the second half of 2019.

CORPORATES
STANDARD AND POOR’S 500 INDEX, MORGAN STANLEY AND COMPANY INCORPORATED, CITIGROUP INCORPORATED, UNITED STATES. FEDERAL RESERVE BOARD

US stocks brace for grim reporting season

Original article by Timothy Moore
The Australian Financial Review – Page: 23 : 8-Apr-19

Michael Wilson of Morgan Stanley expects the quarterly US reporting season to signal the start of an earnings recession. He says the March 2019 quarter is likely to be the first since the June 2015 quarter that the S&P 500 will record year-on-year negative earnings growth. The S&P 500 has gained 15.4 per cent so far in 2019, closing at 2,892.74 points on 5 April. Morgan Stanley expects it to end 2018 at 2,750 points, while Capital Economics forecasts that it will reach a 2019 low of just 2,300 points.

CORPORATES
STANDARD AND POOR’S 500 INDEX, MORGAN STANLEY AND COMPANY INCORPORATED, CAPITAL ECONOMICS LIMITED, FACTSET RESEARCH SYSTEMS INCORPORATED, CITIGROUP INCORPORATED, BANK OF AMERICA CORPORATION, JP MORGAN AND COMPANY INCORPORATED, WELLS FARGO AND COMPANY, THE GOLDMAN SACHS GROUP INCORPORATED

Digital market abuse almost limitless: News

Original article by Andrew White
The Australian – Page: 27 : 9-Feb-19

News Corporation has posted revenue of $US2.63bn ($3.7bn) for the December 2018 quarter, an increase of 21 per cent. EBITDA rose by 13 per cent to $US370m following the merger of Foxtel and Fox Sports, while the media group’s net profit of $US119m compares with a loss of $US66m for the same period in 2017. Meanwhile, News Corp CEO Robert Thomson has criticised the growing dominance of digital platforms in the US audiobooks market. He has called for a "regulatory reckoning" to address the issue.

CORPORATES
NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, AMAZON.COM INCORPORATED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, HARPERCOLLINS, DOW JONES AND COMPANY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Strong US earnings growth tipped but it’s unlikely to last

Original article by Timothy Moore
The Australian Financial Review – Page: 20 : 16-Jul-18

Expectations of earnings growth has been a major contributor to the rise of the S&P 500, which has gained 8.5 per cent since its February low. Market strategist Ed Yardeni notes that US corporate tax cuts in late 2017 have been the major driver of earnings growth. Analysts forecast earnings growth of 22.3 per cent in 2018 and 9.9 per cent in 2019. However, some analysts warn that earnings growth could come under pressure in the second half of 2018, due to factors such as the trade war with China and the rising US dollar.

CORPORATES
STANDARD AND POOR’S 500 INDEX, YARDENI RESEARCH INCORPORATED, FUNDSTRAT GLOBAL ADVISORS LLC, BLACKROCK INCORPORATED, LPL FINANCIAL LLC, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, JP MORGAN CHASE AND COMPANY, CITIGROUP INCORPORATED, WELLS FARGO AND COMPANY, FACEBOOK INCORPORATED, AMAZON.COM INCORPORATED, APPLE INCORPORATED, NETFLIX INCORPORATED, GOOGLE INCORPORATED, ALPHABET INCORPORATED, MICROSOFT CORPORATION, BHP BILLITON LIMITED – ASX BHP, RBC CAPITAL MARKETS, FACEBOOK INCORPORATED, EXPEDIA INCORPORATED, BANK OF MONTREAL

Wall Street could stop ASX bull run

Original article by Philip Baker
The Australian Financial Review – Page: 31 : 11-Apr-17

The S&P/ASX 200’s rise above the 5,900-point level has prompted renewed speculation that it could test 6,000 points. However, the near-term outlook for the benchmark index will depend on the US earnings season, and data from Bloomberg shows that the number of companies that have provided earnings guidance in the last month has fallen to the lowest level since 1999. Meanwhile, borrowings costs may rise as offshore investors bail out of US treasuries and the Federal Reserve prepares to divest $US2.46trn worth of treasuries.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, BLOOMBERG LP, UNITED STATES. FEDERAL RESERVE BOARD, DOW JONES INDUSTRIAL AVERAGE INDEX, STANDARD AND POOR’S 500 INDEX, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, THOMSON REUTERS PLC, PERPETUAL LIMITED – ASX PPT

News Corp sees a property-led future

Original article by Max Mason
The Australian Financial Review – Page: 14 : 10-Aug-16

Media giant News Corporation has posted a 2015-16 profit of $US179m, compared with a $US147m loss in 2014-15. Group revenue was three per cent lower at $US8.3bn, while its newspaper division’s revenue was down seven per cent at $US5.3bn. However, revenue at its digital real estate services business rose by 32 per cent to $US822m. This division includes property listings businesses such as REA Group and Realtor.com. News Corp CEO Robert Thomson expects the division to become the group’s biggest source of earnings.

CORPORATES
NEWS CORPORATION – ASX NWS, REA GROUP LIMITED – ASX REA, REALTOR.COM, MOVE INCORPORATED, IPROPERTY GROUP LIMITED, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, NEWS AMERICA MARKETING INCORPORATED, FAIRFAX MEDIA LIMITED – ASX FXJ, MACQUARIE GROUP LIMITED – ASX MQG, THE GOLDMAN SACHS GROUP INCORPORATED, TELSTRA CORPORATION LIMITED – ASX TLS

Murdoch quells Fox News concerns after Ailes departure

Original article by Jake Mitchell
The Australian – Page: 23 : 5-Aug-16

21st Century Fox has posted a net profit of $US2.8bn ($A3.7bn) for fiscal 2016, compared with $US8.4bn previously, although the prior result was bolstered by asset sales. The media group’s EBITDA rose by two per cent to $US6.6bn, while revenue was one per cent higher at $US27.3bn. 21st Century Fox’s co-executive chairman Lachlan Murdoch has stressed that the resignation of Fox News CEO Roger Ailes will have no effect on the cable news channel’s editorial position or strategic direction.

CORPORATES
21ST CENTURY FOX INCORPORATED, FOX NEWS, DIRECT BROADCAST SATELLITE TELEVISION, SKY ITALIA SPA, SKY DEUTSCHLAND AG, SKY PLC, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD

Cancellations, price rises slow subscriber growth at Netflix

Original article by Max Mason
The Australian Financial Review – Page: 18 : 20-Jul-16

US-based Netflix has posted a profit of $US40.8 million for the June 2016 quarter, which is 54.8 per cent higher than the same period in 2015. However, Netflix increased its global subscriber base by just 1.7 million during the quarter, compared with its own expectations that it would gain 2.5 million customers. An increase in its prices also resulted in a rise in Netflix’s customer churn rate. The company has noted that lower growth in international subscribers was to be expected after it launched in markets such as Australia in 2015.

CORPORATES
NETFLIX INCORPORATED

Netflix flags foray into news

Original article by Max Mason
The Age – Page: 23 : 16-Oct-15

US-based subscription video-on-demand provider Netflix has posted a $US29.4m ($A40.2m) profit for the September 2015 quarter, with sales totalling $US1.7bn. The number of paid subscribers rose from 62.7 million to 66 million, and the group expects this to top 70 million by the end of 2015. Meanwhile, chief content officer Ted Sarandos says a news programs is among the content that Netflix is looking to offer in coming years, although he has downplayed suggestions that it may bid for sports broadcasting rights.

CORPORATES
NETFLIX INCORPORATED, VICE MEDIA INCORPORATED, HBO