News Corp’s Reports Drop in Book Publishing Revenues

By Dianna Dilworth 

News Corp’s revenues from book publishing were $358 million during fiscal Q3 2016, down 11 percent from $402 million during the same period last year.

Overall, News Corp’s revenues for the quarter were $1.9 billion, a 7 percent decline as compared to the $2 billion the company earned the prior year. The company attributed the decrease to negative impact from foreign currency fluctuations, along with lower advertising revenues in its news and information services segment, as well as lower consumer revenues in the book publishing segment.

The company’s book revenues were $1.2 billion during the nine months which ended March 31st, a drop of only 5 percent year-over-year.