News Corp (ASX:NWS) third quarter results show revenues of $2.10 billion a 6 per cent increase compared to $1.98 billion in the prior year.
Net loss to stockholders was $1.1 billion compared to nil on the prior year.
The loss was primarily driven by non-cash write-downs of $998 million related to Foxtel and FOX SPORTS, as well as a non-cash impairment charge of $165 million at News America Marketing.
Total revenue beat estimates led by strength in its real estate business – that grew by 27 per cent.
Loss per share available to News Corporation stockholders was ($1.94) as compared to ($0.01) in the prior year
News Corp (ASX:NWS) closed down 0.5 per cent to $22.32 yesterday