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News Corp. (NWS) Is Losing Ground Despite Better Than Expected Q4 Profit

News Corp. (NWS) reported fourth quarter adjusted EPS of $0.08 after the bell Thursday, which topped the consensus estimate of $0.06. Revenues rose to 29 percent to $2.69 billion from $2.08 billion last year. Analysts had a consensus revenue estimate of $2.68 billion.

News Corp. has dropped sharply in early trade Friday and is now down 1.45 at $13.95. The stock has tumbled to a 9-month low.

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