News Corp's Ad Revenue Takes a Hit as Digital Subscribers Surge

The company's digital subscriber count is growing as day-to-day life moves more online

Digital Content Manager
Apr 14, 2020 at 10:02 AM
facebook twitter linkedin

Media concern News Corp (NASDAQ:NWSA) announced last night that its advertising revenue would plummet as a direct result of the coronavirus pandemic. The Wall Street Journal parent did add that there has been a rise in digital subscribers as COVID-19 moves more of everyone's day-to-day life online. NWSA is up 1.1%, at $9.49, at last check.

It's been a struggle for NWSA to distance itself from its early April record lows, with previous support at the $9.50 region now acting as a stiff ceiling on the charts. And while the security is eyeing its third-straight close north of its 20-day moving average, it's still down over 34% year-to-date and 26% year-over-year. 

Sentiment surrounding NWSA leans pessimistic, with five of the eight analysts covering the stock calling it a "hold" or worse, compared to just three "buy" ratings. On the other hand, the consensus 12-month price target of $13.82 is a 47.2% premium to last night's close. 

Short sellers are starting to come out of the woodwork, with the 10.75 million shares sold short representing 2.8% of the stock's available float. In simpler terms, this equates to less than three days of trading at its average daily pace. 


Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!