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

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.