News Corp. reported Monday a net profit of $38 million in
the quarter ended Sept. 30, compared with a loss of $83 million a year earlier, according to The NY Post.
Revenue in the period fell 2.9 percent to $2.07 billion.
It was the first quarterly report from recently independent
News Corp., which separated most of its non-newspaper businesses into a new
company called 21st Century Fox in July.
Fox houses a Hollywood
studio and cable and TV network operations.
“Our first quarter as the new News was the beginning of a
journey in the digital development of the company,” CEO Robert Thomson said in
a statement.
News Corp., whose publishing properties include The NY Post
and the Wall Street Journal, said the decline in revenue reflected a drop in
demand for print advertising, primarily in Australian publications.
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