News Corp Revenue Falls for Fourth Straight Quarter

Company reports $0.20 per share on $2.16 billion in revenue for second quarter of 2016

Last Updated: February 4, 2016 @ 2:37 PM

News Corp. reported mixed earnings results Thursday for the second quarter of 2016. The company reported earnings of $0.20 per share Thursday on $2.16 billion in revenue.

According to consensus estimates from Thomson Reuters, the company had been expected to report $0.21 per share on $2.13 billion in revenue.

This is the fourth straight quarter that News Corp has posted declined in revenue. The Rupert Murdoch-led company, which includes Dow Jones and the Wall Street Journal, was negatively impacted by declines in news-division ad revenue.

“In our News and Information Services segment, print advertising remained challenged, but we are seeing growth in digital advertising and circulation revenues,” Company CEO Robert Thompson said in a statement. “We are particularly focused on cost reductions and sharing services around News Corp to streamline operations at the newspapers in Australia and the U.K.”

News Corp.’s mixed earnings results come the same week that 21st Century Fox, the media company spun off from News Corp., announced plans to cut $250 million in jobs.

In June, News Corp. announced that it would cut 100 jobs from its Dow Jones unit.