News Corp shows 6 per cent rise in quarterly revenue

Company News

by Rachael Jones

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
 

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