rupert murdoch News Corp
Rupert Murdoch

After seven years of confusion, missteps and billions of dollars in write-downs and accompanying losses, News Corp has finally got its act together and produced strong quarterly figures.

This is due to a combination of property, a rebound at Foxtel, the ongoing boom at The Wall Street Journal, and the first profit at the New York Post in decades.

Despite a 3% dip in revenues to US$2.41 billion (due to the sale of News America Marketing), News earned a quarterly net profit of US$261 million -- more than double the US$103 million in the final quarter of 2019. Total segment earnings before interest, tax, depreciation and amortisation was US$497 million, compared to US$355 million in the prior year.