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News Corp. sees revenue growth in digital real estate portfolio

The owner of realtor.com operator Move reports earnings for second quarter of fiscal year 2017

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Digital real estate services are "well on their way" to becoming News Corp.'s largest profit-driver, Chief Executive Robert Thomson said in the company's second quarter earnings statement for fiscal year 2017. News Corp. -- which owns realtor.com operator Move  -- reported revenue of $2.12 billion for the quarter, down by 2 percent from $2.16 billion a year earlier. The media giant posted a loss of $290 million for the quarter compared to a profit of $62 million a year ago. The loss stemmed in large part from a write-down of the value of News Corp.'s Australian media properties. Yet digital real estate holdings for the media group continued to hold momentum, with revenue from that segment increasing $34 million (16 percent year-over-year) to $242 million. The increase can be attributed to "improved margins and robust audience gains," according to Thomson. Revenue results Revenue from REA Group -- which operates a global network of property sites, including r...