News Corporation's Stellar 1Q Aided by Recovery of Poor Performers from a Year Ago
The 50% year-on-year jump in no-moat-rated News Corporation's fiscal 2018 first quarter normalised EBITDA to USD 206 million needs to put into context. While no doubt a solid result and represents the highest growth achieved since its separation from Twenty-First Century Fox in 2013, there was a base effect in play, given the 19% EBITDA fall in the quarter a year ago.It is no coincidence that the divisions with the highest earnings growth in the first quarter (news information and cable network...
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