News Corp. Revenues Fall With Slower Ad Sales

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By: Ted Johnson | Variety

News Corp. said that its revenues in its most recent quarter fell 5% to $2.08 billion, reflecting foreign currency fluctuations and continued sluggish advertising revenues as its newspapers.

The company said that its third-quarter net income fell to $48 million, or 8 cents a share, from $323 million, or 56 cents a share a year ago. Excluding one-time gains from the prior year, adjusted net income was 11 cents a share in the most recent quarter, compared to 13 cents a share a year earlier.

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