RBC Boosts Stake in News Corporation with 54.5% Increase
Royal Bank of Canada (RBC) has increased its position in News Corporation (NWSA) by 54.5% in the first quarter, according to a recent SEC filing.
The fund now owns 567,584 shares of News' stock after purchasing an additional 200,262 shares during the period. This represents about 0.10% of the company's outstanding shares and is valued at approximately $14.15 million at the end of the quarter.
News Corporation operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company has a diverse portfolio of leading newspapers, magazines, and digital platforms, offering content across print and online channels.
The recent earnings report for the second quarter showed that News Corporation beat analysts' expectations with $0.35 EPS, up from $0.19 in the same period last year. Revenue also increased by 10.8% to $2.34 billion, exceeding estimates of $2.25 billion.