UPDATE: News Corp Posts Higher FQ2 Profit, Lowers Annual Forecast

News Corp NWSA reported higher fiscal second-quarter profit and revenue. However, the company lowered its outlook for annual earnings. News Corp's quarterly earnings rose to $2.38 billion, or $1.01 per share, versus $1.06 billion, or $0.42 per share, in the year-ago period. Excluding special items, its earnings climbed to $0.44 per share from $0.39 per share. Its revenue gained 5% to $9.43 billion. However, analysts were expecting earnings of $0.43 per share on revenue of $9.26 billion. News Corp shares declined 4.32% to $27.00 in the after-hours trading session.