News Corp (Class A) reports on Wednesday 4 November, after the market closes. Revenue over the twelve months to Q4 2026 was $9.0 billion, up 6.8% on the year before, and that growth rate was up 2.5 percentage points on the rate a quarter earlier. The report will test whether that acceleration holds.
Source: reported quarterly EPS and aggregated third-party estimates. Historical surprises are context, not a forecast.
View chart data
| Period | Reported EPS | Analysts' estimate |
|---|---|---|
| Sep '25 | $0.22 | $0.19 |
| Dec '25 | $0.40 | $0.37 |
| Mar '26 | $0.21 | $0.20 |
| Jun '26 | $0.35 | $0.23 |
What analysts expect from News Corp (Class A)
The analysts' average EPS estimate for the quarter is $0.26, in a range from $0.24 to $0.27, with an average revenue estimate of $2.3 billion. The full-year EPS estimate stands at $1.32, which would be up 11.8% on last year based on 9 analysts, and has risen 2.2% over the past 90 days. Eight of the analysts' recommendations are positive, one is neutral and none is negative.
Earnings surprise model
Our model estimates EPS could land above the analysts' average estimate by 5.9%, with an estimated chance of a beat at 75.0%. The model is based on the last 4 quarters, shrinks the median recent surprise toward zero and uses a neutral prior for beat frequency. This small sample is a reference estimate, not company guidance.
News Corp (Class A)'s record against estimates
The company reported EPS above the analysts' average estimate in 4 of the last 4 quarters. Last quarter, EPS of $0.35 compared with an estimate of $0.23, above it by 51.2%, the most recent data point in that streak.
Growth has picked up
Revenue growth is accelerating while net income is falling. Revenue over the twelve months to Q4 2026 was $9.0 billion, up 6.8% on the year before, and that growth rate was up 2.5 percentage points on the rate a quarter earlier. Net income over the same period was $573.0 million, which fell 51.4% on the year before, and the trailing net margin was 6.3%.
Cash flow moves in the opposite direction from the profit line. Operating cash flow over the twelve months was $1.2 billion, up 26.5% on the year before. After capital spending of $426.0 million, or 4.7% of revenue, free cash flow came to $811.0 million, up 42.0% on the year before. The free-cash-flow margin of 9.0% was up 2.2 percentage points from a year earlier and is higher than 83% of the company's own past quarterly readings, which have ranged from 1.9% to 15.2%. The average diluted share count fell 2.0% over the year.
Revenue growth of 6.8% is higher than 75% of the company's past readings, which have ranged from −33.5% to 25.4%.
Questions this report will answer
The report will answer whether the pick-up in revenue growth continues, whether results land above or below the analysts' expectations set out above, and whether margins hold at the trailing levels reported.
The value hinges on margins more than growth
In our model, growth 5 percentage points lower would lower the value by 25.9%, and growth 5 percentage points higher would raise it by 33.8%. A free-cash-flow margin 1 percentage point lower would lower it by 11.6%.
