News Corp reports profit jump to $87m
Nov 11, 2017-US media group News Corp said on Thursday it returned to profit in the past quarter, as it saw improvements in digital subscriptions at the Wall Street Journal and other newspapers. The media conglomerate led by mogul Rupert Murdoch and his family reported a profit of $87 million in the fiscal quarter to June 30, compared with a flat result a year earlier. Revenues grew five percent to $2.01 billion. Chief executive Robert Thomson said revenues and operating income grew in all segments, including its real estate websites. Thomson said the newspaper outlook appears positive following changes made by Google in its indexing of online news to help support digital subscription models. “We have reason for optimism about the future of our premium media businesses, in light of the profound changes agreed by Google in the ranking of news content,” he said.
Published: 11-11-2017 08:28