News Corp., the global company that owns and operates through its subsidiary, Move Inc., reported $8.14 billion in revenue for fiscal year 2017, down 2 percent from $8.29 billion the year prior.

Overall the company operated at a $643 million loss for fiscal year 2017, compared to an in-the-black $235 million reported in fiscal year 2016.

As revenue lowers in the company’s news and information services sector, its digital real estate services –which include operator Move and REA Group — continue to bolster its earnings; digital real estate was responsible for nearly 40 percent of News Corp’s profits for fiscal year 2017.

Revenue from digital real estate services grew from $822 million in fiscal year 2016 to $938 million in 2017, a 14 percent increase.

“We expect to expand earnings in coming years as the sector is still at a relatively early stage of its e-evolution,” said Chief Executive Robert Thomson in a statement accompanying the earnings results covering 2017’s full year and fiscal fourth quarter results.

Digital real estate services represented 37 percent of Total Segment EBITDA (earnings before interest, taxes, deductions and amortizations), driven by strong audience gains and new product offerings.

The company saw a 9 percent boost in traffic to’s web and mobile sites in the fiscal fourth quarter to approximately 58 million average monthly unique users.

“Move, the operator of, and REA Group continue to post record revenues driven by higher traffic and improved yields,” Thomson said.

Email Caroline Feeney

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription