News Corp reports 5% revenue increase in Q1

Company News

by Kathy Skantzos

News Corp (ASX:NWS) has recorded $2.1 billion in revenue in its first quarter of FY2018, a 5 per cent increase from the previous year.

Net income recorded was $87 million this year and total segment EBITDA increased by 92 per cent to $249 million.

Digital revenue comprised 27 per cent of News and Information Services segment revenues compared to 24 per cent in the previous year.

In August, the media conglomerate agreed with Telstra to combine Foxtel and Fox Sports Australia, bringing News Corp’s ownership in the company to 65 per cent.

The company has been in conversations with Google and Facebook to improve digital media competition, facilitate subscriptions and change personal data sharing permissions.

Shares in News Corp (ASX:NWS) are trading 3.87 per cent higher to $19.57 a share.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.