News Corporation says 4Q revenue rose
News Corporation on Thursday said revenue in the fourth quarter rose to $2.49 billion, 30% higher than the $1.92 billion in the year-ago period.
The company also reported a fourth-quarter net loss of $15 million. In the year-ago period, the company reported a net loss of $401 million.
FOX REPORTS HIGHER REVENUE, AS SPORTS AND ENTERTAINMENT EVENTS RESUME
Robert Thomson, the company's chief executive, said, "Fiscal Year 2021 was the most profitable year since we created the new News Corp in 2013, with revenues rising 4% in the full year and surging by 30% in the fourth quarter." He added, "Profitability improved by 26% for the year, when we had a record number of digital subscriptions, record revenue and profits at Move and record traffic at realtor.com, record profits at HarperCollins and the largest profit at Dow Jones since its acquisition in 2007."
The company also said it saw record subscriber growth at Foxtel, with paid streaming subscribers reaching over 2 million.
For fiscal year 2021, News Corporation said revenue rose 4% from a year ago to $9.36 billion.
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