UPDATE: News Corp Posts Narrower FQ4 Loss
Late Friday, News Corp (NASDAQ: NWSA) reported a narrower fiscal fourth-quarter loss.
News Corp posted a quarterly loss of $1.11 billion, or $1.94 per share, versus a year-ago loss of $2.21 billion, or $3.83 per share.
Its revenue surged to $2.26 billion from $2.13 billion. However, analysts were expecting revenue of $2.22 billion.
For the year ended June 30, News Corp reported a profit of $506 million, or $0.87 per share, versus a year-ago loss of $2.08 billion, or $3.58 per share. Its revenue rose 2.7% to $8.89 billion. However, analysts were expecting earnings of $0.57 per share on revenue of $8.96 billion.
News Corp shares closed at $16.91 on Friday.
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