News Corp shares slide despite Q2 revenue beat

Shares of media and information service firm News Corp NWSA.O fall nearly 3% to $23.5 in premarket trading

Co reported Q2 revenue of $2.36 billion, beating LSEG estimates of $2.29 billion on strength in its Dow Jones, real estate, and publishing units

J.P. Morgan maintains an "overweight" stance on the stock, says, with the downward move parallel to several other firms in the business and data services sector, the catalyst was investor focus on Anthropic's Claude Cowork, which rolled out earlier this year

Brokerage also notes that NWSA is establishing new AI partnerships and is in advanced negotiations for more deals

Nine analysts rate the stock "buy" on average; median PT is $38 - data compiled by LSEG

As of last close, NWSA is down ~16% in the past 12 months