News Corp. Reports Disappointing Quarterly Numbers

News Corp. released its earnings report for the quarter that ended in March, and the results are a little disappointing. The company reported a decline in its operating income, which was down to about $1 billion, compared to $1.25 billion over the same period last year. The drop-off appears to be at least in part the result of a $125 million charge related to litigation settlement—likely the result of the ongoing phone hacking scandal that continues to plague News Corp.’s British newspaper publisher News International. Even without those litigation expenses, the company's operating income was still down five percent from last year. The company saw increases in television and cable programming, though that could not offset decreases in its film business, which had a better-than-average year last year thanks to Avatar. The company also quarterly net income of $639 million, down from $839 million during the same period last year. Continue reading at 'AdWeek'

[ AdWeek | 2011-05-05 00:00:00 UTC ]
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