Technology

News Corp. reports $2.2B in revenue, 21% increase in digital real estate

The company was solidly in the black for the final fiscal-year quarter
  • Total operating expenses were about $1.3 billion, leaving the company with a profit of $89 million for the quarter and $177 million for the fiscal year.

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News Corp., the global company that owns realtor.com operator Move, Inc., reported its financial results for fiscal year 2016 -- which ended in June -- and it's no surprise that the company's recap is praising its digital real estate properties for their contributions to its bottom line. "Since the advent of the new News three years ago, revenue at Digital Real Estate Services has more than doubled, and it is expected to become the biggest contributor to EBITDA in the future thanks to the ongoing success of REA and the rapid growth at Realtor.comĀ in the U.S.," said News Corp. CEO Robert Thomson in a statement. "Our reach in digital real estate is unparalleled and highlights the potential of the News Corp. network, which is monetizing shared data and maximizing the value of content and traffic." Total operating expenses were about $1.3 billion, leaving the company with a profit of $89 million for the quarter and $177 million for the fiscal year. Revenue Revenue for News...