News Corp posts 4th-qtr net loss on charges
Media conglomerate News Corp posted a quarterly net loss on Wednesday after taking charges in some of its units, including the one that houses the MySpace online social network.
News Corp's fiscal fourth-quarter 2009 net loss was $203 million, or 8 cents a share, compared with net income of $1.13 billion, or 43 cents a share, a year ago.
Excluding charges, the company said its adjusted operating income was 19 cents a share.
Revenue fell 10.7 percent to $7.67 billion, in line with analysts' expectations, according to Reuters Estimates.
The past year has been the most difficult in recent history, and our 2009 financial performance clearly reflects the weak economic environment that we confronted throughout the year, Chief Executive Rupert Murdoch said in a statement.
News Corp shares were flat in after-hours trading, after closing down a penny at $10.58 on the Nasdaq stock market.
(Reporting by Robert MacMillan)
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