News Corp. announced Thursday that revenue for the quarter ending June 30 decreased 3 percent, to $2.19 billion, which beat analyst expectations of $2.17 billion.
The results marked the end of News Corp.’s first full year as a stand-alone company, having separated from 21st Century Fox last June. Shares were up slightly at $17.50 in after-market trading Thursday.
CEO Robert Thomson said print-dominant News Corp., which publishes The Post and The Wall Street Journal, confronted “advertising headwinds” throughout the year.
Thomson also acknowledged advancing toward “the mission we articulated at the outset — to be more global and more digital through organic growth, product launches and strategic acquisitions.”
News Corp.’s book publishing business, led by HarperCollins, buoyed total results with a 10 percent increase in revenue, to $361 million, and a 50 percent increase in Ebitda, to $33 million.
So did REA, News Corp.’s digital real estate services company, which continued to expand into new markets, most recently in Southeast Asia. The segment’s revenue increased 24 percent, to $113 million.
News Corp. attributed much of the large swing in its net income per share — to 2 cents from a year-earlier loss of $1.94 — to impairment and restructuring charges. Those were $21 million in the most recent quarter, compared to $1.5 billion in the year-earlier quarter.