News Corp confirms 5% cut to global workforce, Q3 FY results down 2% YoY

Kalila Welch

May 12, 2023 11:29

News Corporation has posted another drop in revenue in its third-quarter results for the 2023 financial year. Revenue for the quarter was US$2.45 billion (A$3.65 billion), a 2% decrease compared to the prior financial year period.

The media business has said the drop reflected a US$98 million (A$146 million) or 4% negative impact in foreign currency fluctuations.

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Kalila Welch

Kalila Welch joined the Mumbrella editorial team in November 2021. She took a brief career break in mid 2023 to complete her Masters of Journalism before returning to Mumbrella for a year.

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