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News Corp Just Reported Revenue Of US$2.1 Billion

News Corp (ASX:NWS) shares have risen after the media giant reported its third-quarter result to 31 March 2018.
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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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This morning, News Corp (ASX: NWS), the media giant, publicly reported its third-quarter result for 31 March 2018.

News Corp owns many different media publications like The Australian, The Daily Telegraph, The Wall Street Journal, The Herald Sun, The Sun, The Sunday Times and News.com.au. It’s former boss was Rupert Murdoch.

Here are some of the highlights from its update:

  • Revenue growth of 6% to US$2.1 billion
  • Day to day trading, or EBITDA, was down 15% to US$182 million (click here to learn what EBITDA means)
  • A net loss of US$1.1 billion was reported, which includes US$1.2 billion of impairment charges and write-downs
  • Digital Real Estate Services revenue grew by 27% thanks to its stakes in REA Group and realtor.com

In April 2018 News Corp completed the transaction to combine Foxtel and Fox Sports Australia, with News Corp owning 65% of the combined company.

Robert Thomson, the Chief Executive, said: “We finished the fiscal third quarter with strong revenue growth, led by outstanding performances at our Digital Real Estate Services and Book Publishing segments.”

Investors seemed to be reasonably pleased with the result, the News Corp share price was up 1% in early trade on Friday, according to Google Finance. 

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