News Corp: net loss increases tenfold in Q4

(CercleFinance.com) - News Corp reported on Thursday evening a tenfold increase in its loss to 401 million dollars for Q4 2019-20, reflecting 292 million dollars in non-cash impairment charges, and higher restructuring costs due to the Covid-19 pandemic.


On an adjusted basis, the media group reported a net loss of three cents per share, compared to EPS of seven cents a year ago, although analysts feared triple this loss per share.

Segment EBITDA fell by 28% to 195 million dollars, with revenues falling 22% to 1.92 billion dollars, mainly reflecting the 13-point negative impact of the pandemic and the seven-point negative impact from the divestment of News America Marketing.


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