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News Corp's quarterly revenue falls 2.4 percent
November 7, 2016 / 9:32 PM / a year ago

News Corp's quarterly revenue falls 2.4 percent

Nov 7 (Reuters) - News Corp, the owner of the Wall Street Journal, Dow Jones Newswires and book publisher HarperCollins, reported a 2.4 percent fall in quarterly revenue as it struggles to cope with a decline in newspaper advertising revenue.

The company, controlled by media mogul Rupert Murdoch, said on Monday its revenue fell to $1.97 billion in its first fiscal quarter ended Sept. 30 from $2.01 billion a year earlier.

News Corp reported net loss attributable to shareholders of $15 million, or 3 cents per share, compared with a profit of $175 million, or 30 cents per share.

The company has been reducing staff and implementing other cost-cutting measures in its Dow Jones division, which includes the Journal, while building up its digital real estate business. (Reporting by Narottam Medhora in Bengaluru; Editing by Anil D‘Silva)

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