Ad revenue at News Corp's Australian papers is still in decline but the publisher claims there has been a “tangible improvement” during the last three months compared with previous quarters, according to CEO Robert Thomson.
Overall revenue climbed 4% to US$2.15 billion ($A2.5 billion) against a $2.07 billion figure the year before with underlying profit up 21% to $170 million. However the thrust of the revenue growth was driven by its book publishing, digital real estate, and its digital education segments.
Revenue at its news and information business, which houses News Corp's news titles, was down 3% year-on-year to $1.45 billion with profit plummeting 21% to $105 million.
The US group said its Australian newspaper revenues were “relatively flat”, which reflected a weaker advertising market.
However, favourable foreign currency exchange helped smooth over some of the weakness.
“We have seen tangible improvement in our newspaper business in Australia and circulation gains at The Times and The Wall Street Journal,” Thomson said.
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