socialmedian: News Corp.Profit Rose 11 Percent Without Much Help From Newspapers, Digital

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News Corp.Profit Rose 11 Percent Without Much Help From Newspapers, Digital

Source: paidContent.org

Nov 04, 2009

Summary

Work in progressRevenue dropped to $7.1 billion but News Corp (NYSE: NWS). still turned in an 11 percent increase in profit in its first fiscal quarter, thanks, in part, to the way it handled expenses for Ice Age: Dawn of the Dinosaurs. Not much thanks, though, to the Newspapers and Information Systems segment, where revenue dropped $302 million year-over-year to $1.4 billion and operating income sunk to $25 million, down more than $109 million due to decreased ad revenues across all markets. Meanwhile, the Digital Media Group, once known as FIM, had higher losses due to lower search revenue and restructuring costs—bringing in $22 million less than the same quarter last year.