News Corp. Revenue Declines

Ad dollars continue to dwindle.

News Corporation’s first quarter revenue declined 4 percent compared to 1Q 2014, and things would’ve been worse if not for a one-time tax benefit.

Total revenue declined from $2.11 billion last year to $2.01 billion. The main factor in the drop was an 11 percent decline in revenue from News Corp.’s news and information unit, which accounts for a majority of the company’s revenue.

As you might guess, ad dollars were also down for the quarter. Advertising revenue fell 13 percent for the quarter, with News Corp’.’s Australia properties—The Australian, The Daily Telegraph and Herald Sun—getting hit particularly hard.