News Corp profit falls as company hit by sluggish Australian economy

Original article by Zoe Samios
The Sydney Morning Herald – Page: Online : 7-Feb-20

News Corporation has released its financial results for the three months to December, reporting a profit of $US103 million ($153.1 million). This compares to a profit of $US119 million in the prior year period, while revenue was down six per cent to $US2.48 billion, with the Rupert Murdoch-controlled company blaming the torpid Australian economy for the decline. Revenue for news and information services fell $16 million, with the Australian market down nine per cent. Subscriber numbers for Foxtel, which includes streaming services Foxtel Now and Kayo, declined from 3.065 million at the end of the September quarter to 2.95 million at the end of the December quarter.

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, FOXTEL NOW, KAYO SPORTS

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