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News Corp reports lower revenue, profit as newspaper ad sales drop
May 8, 2014 / 8:17 PM / 3 years ago

News Corp reports lower revenue, profit as newspaper ad sales drop

May 8 (Reuters) - News Corp reported on Thursday that quarterly revenue fell 5 percent because of lower advertising sales at its newspapers.

Total revenue for the quarter ending March was $2.08 billion. Analysts polled by Thomson Reuters who were expecting $2.06 billion.

Net income fell to $48 million, or 8 cents per share, from $323 million, or 56 cents per share, in the same period last year which included a non-taxable gain on the Sky Network transaction. (Reporting by Jennifer Saba in New York)

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