News Corp Australia revenues flat amid ‘modest’ ad decline

Revenue from News Corp’s Australian newspapers remained flat in the three months ending September with a “modest” decline in advertising revenue offset by favourable foreign exchange rates.

The newspaper publisher reported a group-wide revenue increase of four per cent in the first quarter to US$2.15b (A$2.5b), with earnings climbing 21 per cent to US$170m (A$198m).

However newspaper revenues fell three per cent to $1.45b (A$1.69b) with News Corp’s Australia newspapers “relatively flat”.

“[It reflects] modest advertising revenue declines and favourable foreign currency fluctuations,” the company said.