Yahoo Finance Stocks moving in after-hours: News Corp, Getty
These are some of the stocks making moves in after-hours trade on May 11, 2023:
News Corp (NWS)
News Corp's third-quarter revenue of $2.45 billion came in above consensus estimates of $2.38 billion. Adjusted earnings per share of 9 cents also topped expectations of 5 cents.
The news and information conglomerate said subscriptions to its consumer products — which include the Wall Street Journal — crossed 5.1 million. Advertising trends at the News Media segment also improved sequentially.
“In a period in which advertising was clearly insipid in certain parts of the world, our core non-advertising revenue has been particularly robust, highlighted by a 38 percent increase in revenues at the Dow Jones professional information business," News Corp CEO Robert Thomson said in the company's earnings release.
Thomson also took the opportunity to call for the release of Wall Street Journal reporter Evan Gershkovich, detained in Russia on March 29 while on a reporting trip and accused of spying.
"We want to highlight that today marks the 44th day in captivity for Wall Street Journal reporter Evan Gershkovich, who has been wrongfully, willfully detained in Russia. We trust that justice and common sense will prevail, and that Evan will soon be released.”
Getty (GETY)
Getty posted first quarter adjusted earnings per share of 1 penny, versus expectations of 4.3 cents. Revenue of $235.6 million was up 2% year-over-year and topped consensus estimates of $228.3 million.
“We are pleased to report a quarter of revenue growth, all of which is organic, despite foreign exchange pressures, driven by strong subscription growth, subscription renewal rates, new customer growth and increased consumption of our content,” said Craig Peters, CEO of Getty Images.
The multi-media agency highlighted a collaboration with chipmaker NVIDIA (NVDA) to develop and distribute generative text-to-image and text-to-video offerings.
Getty shares were down more than 1% in after-hours. Year-to-date the stock is up about 12%
In April, Trillium Capital said it was offering $10 a share in cash for the multimedia company, telling Reuters the bid was made public after the activist investor had been ignored for weeks.
Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre
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