News Corporation Reports Q1FY20 Results, Revenue Down By 7%

  • Nov 08, 2019 AEDT
  • Team Kalkine

News Corporation (ASX: NWS), a global newspaper and book publishing company, has announced its Q1FY20 results for the period ended on 30 September 2019. The company reported revenues of $2.34 billion, down by 7% as compared to the prior year due to negative impact from currency headwinds.

Quarterly Highlights:

  • The company reported net loss of $211 million as compared to the net income of $128 million in the prior year;
  • EBITDA stood at $221 million, down by 38% as compared to prior year;
  • The EBITDA was significantly impacted by lower revenues, higher cost associated with Cricket Australia rights and accelerated entertainment programming cost amortization at the Subscription Video Services segment.

At AEST 01:13PM, the stock was trading at $19.300 per share, down by 5.577% from its previous close.

 

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