News Corp is expected to report nine percent higher earnings per share of 42 cents on three percent higher revenue of $9.269 billion dollars. The media company's cable networks are expected to show ongoing growth, despite ratings declines at Fox News. The film studio should benefit from the success of "Lincoln;" it's expected to drive operating profit higher, though revenue is projected to drop slightly.
With the stock trading around fifty two week highs, Wall Street is looking for signs that it can continue its growth trajectory. On Monday News Corp sold its gaming website IGN to j2 mobile, and it's been reported that they sold it for far less than they paid for it back in 2005. We'll be looking for any commentary on this sale.
As the company moves forward with its plan to spin off its publishing and education assets into a separate publicly traded company this summer, Wall Street is hoping to see the non-publishing assets accelerate growth, without legacy newspapers slowing them down.
On Tuesday Evercore Partners raised its price target for News Corp to $30 from $27. Analyst Alan Gould projects a higher earnings-per-share growth after the spin-off, though he cites ongoing risks including the global economic environment, and disruptive new technologies.
(Read More: What to Watch for in Disney Earnings)
—By CNBC's Julia Boorstin; Follow her on Twitter: