News Corp revenue boosted as more digital subscribers climb on board

the US and UK, has revealed revenue jumped to $1.98 billion in the three months to March, up 5 per cent from $1.89 billion a year earlier.

Analysts had expected revenue to clock in at $1.86 billion.

It chalked up a break-even performance from continuing operations in the quarter, compared with a $128 million loss a year earlier.

The group’s News and Information Services segment provided a bright spot amid challenging conditions in print advertising around the world.

Segment revenue increased 3 per cent to $1.3 billion, up from $1.2 billion, driven by the robust performance of in-store product at News America Marketing, digital subscriber gains of more than 300,000 at The Wall Street Journal and the benefits of ongoing cost control.

Profitability at the News and Information Services unit also improved.

Earnings before interest, taxes, depreciation and amortisation clocked in at $123 million, compared with a $187 million loss a year ago.

Despite a challenging print advertising market, declines moderated from steeper decreases in the previous two quarters.

Overall advertising revenue rose 5 per cent on a consolidated basis to $705 million.

At News Corp Australia, the group – which publishes mastheads including the Gold Coast Bulletin – attained 333,400 digital subscribers as of March 31, compared with 261,500 a year earlier.