A Poor Result from News Corporation Leads to a 6% Cut in Fair Value Estimate to USD 16 per Share
News Corporation's fiscal 2017 first-quarter result was disappointing. Not only was normalised EBITDA down 19% year on year to USD 137 million, but the group unveiled a net loss of USD 15 million and suffered a free cash flow deficit of USD 317 million.Some of the drivers behind these numbers may be attributed to one-off factors, such as adverse currency movements (USD 36 million revenue impact), the absence of tax benefits which boosted the result a year ago (USD 106 million), and a legal sett...
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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