News Corp (ASX:NWS) has reported a drop in revenue and profit in the 2014 financial year.
The media company reports revenue fell 4 per cent to $US8.75 billion.
The result was attributed to lower advertising revenues, foreign currency fluctuations and the sale of the Dow Jones Local Media Group.
Net profit fell 53 per cent to $US237 million over the year.
CEO Robert Thomson says while operating in a challenging advertising environment, the results highlight the diversification of the company’s portfolio.
