News Corp: 2014 Q1 result

News Corp has reported a slightly disappointing first-quarter result, with revenues down 3% to US$2,072m and underlying earnings before interest, tax, depreciation and amortisation down 5%. Revenue in the News and Information Services division continued to fall, dropping 10% to $1,495m with ad revenues down 12% and subscription revenues down 6%. However a 12% fall in operating expenses meant that EBITDA rose 6%. Advertising revenue at Fox Sports rose in the ‘strong double digits’ thanks to improved ratings and government election spending, and subscription revenues grew 8%. This led to an overall 14% increase in underlying revenue, although foreign...

News Corp has reported a slightly disappointing first-quarter result, with revenues down 3% to US$2,072m and underlying earnings before interest, tax, depreciation and amortisation down 5%.

Revenue in the News and Information Services division continued to fall, dropping 10% to $1,495m with ad revenues down 12% and subscription revenues down 6%. However a 12% fall in operating expenses meant that EBITDA rose 6%.

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