News Corp. delivered quarterly earnings that topped analysts' expectations but fell short of revenue projections Wednesday, citing foreign currency fluctuations and lower advertising revenues.
The global media company posted fiscal fourth-quarter earnings of 7 cents per share, compared to 1 cent in the year-earlier period, on $2.14 billion in revenue.
Wall Street had expected News Corp. to deliver quarterly earnings per share of 5 cents on $2.19 billion in revenue, according to consensus estimates from Thomson Reuters.
Shares of News Corp. were flat in extended-hours trading, but added 4 percent shortly after the earnings beat and notice of approving the company's first semi-annual cash dividend of 10 cents per share.
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"Despite an uneven global economy, very tough currency headwinds and the ongoing transformation of the media landscape, for fiscal 2015 we posted stable revenues, robust EBITDA growth and healthy free cash flow," CEO Robert Thomas said in a statement.
The company reported fiscal 2015 full-year total revenues of $8.63 billion, a 1 percent increase over the $8.57 billion reported in fiscal 2014. However, fourth-quarter revenues for News Corp.'s largest segment, news and information services, fell 10 percent, or $154 million on a 13 percent decline in advertising revenues.
News Corp., which owns The Wall Street Journal, announced a major reorganization at its Dow Jones news publishing unit earlier in June. Dow Jones said it would close bureaus in Prague and Helsinki and plans to eliminate 100 jobs, according to a Journal report.
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A day after the announcement of job cuts, News Corp. was ordered by a federal judge to face a class-action lawsuit from consumer packaged-goods companies accusing it of monopolizing the in-store promotional market.
—Reuters contributed to this report.