News Corp rev­enue boosted as more dig­i­tal sub­scribers climb on board

The Gold Coast Bulletin - - BUSINESS -

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.

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