UPDATE: News Corp Posts Narrower FQ4 Loss

Late Friday, News Corp

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.