Asia
News Fiscal Q3 Result 'Solid,' Demonstrating Strong Growth, Jarden Says
News' (ASX:NWS) fiscal third quarter result was "solid," demonstrating strong growth, Jarden said in a Friday note.Its earnings before interest, taxes, depreciation, and amortization grew 18% year over year in the quarter, and beat Jarden's forecast by 2%. Its Dow Jones business a key driver of the beat. Its adjusted net profit after tax rose 20% over the prior year.The company's book publishing segment benefited from higher physical and digital book sales, the investment firm noted. News Media, the smallest segment, was the largest miss, impacted by the launch of the California Post.Jarden reaffirmed an overweight rating on News, with a price target of AU$46.30.News' shares jumped 4% in recent Friday trade.
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