Rupert Murdoch's News Corp, owner of The Times, The Sunday Times and The Wall Street Journal newspapers, has reportedly revealed that it has recorded a 52 percent drop in net profits in third quarter, compared to the same period in 2014.
Declining advertising revenues and circulations for print publications drove profits down to 23 million dollars for the quarter that ended on March 31, reported the BBC.
Revenues too, plunged by one percent to 2.06 billion dollars.
Chief Executive Robert Thomson highlighted a strong performance in its property listing business, Realtor.com and added that the new News Corp continued to build a firm foundation for digital growth. "News Corp is now a global leader in digital real estate," he said.
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