News Corp reports bumper profits for FY2021

August 6, 2021 10:10

News Corp has reported its “most profitable” financial year, in its current form, with revenues rising 4% in the full year and up 30% in the fourth quarter. Revenues were US$9.36 billion, compared to US$9.01 billion in the prior year.

Profitability improved by 26% for the year, due to a record number of digital subscriptions. Net income was US$389 million compared to a net loss of US$1.55 billion in the prior year, which included non-cash impairment charges of US$1.69 billion.

During the financial year, News Corp signed multi-million dollar multi-years deals with digital platforms Facebook and Google, which have added to the business’ bottom line.

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Olivia Kruimel

Olivia Kruimel was the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.