Sydney, Aug 9: Media mogul Rupert Murdoch's News Corp reported net loss of $1.55 billion or 64 cents per share for the April-June quarter as compared with a profit of $683 million, or 26 cents per share, a year ago.
Profit in fourth quarter fell following non-cash restructuring $2.85 billion and impairment charges. Media major's revenue fell 6.7% on-year to $8.4 billion in the reporting quarter.
The company's shares were down 3% in after-market trading on Wednesday.
News Corp owns Fox Broadcasting in the United States, the FX and Fox News cable networks, and such newspapers as The Wall Street Journal and The Sun in the UK.
Going forward News Corp expects operating profit growth to be in range of high single or low double digits in the fiscal year ending June 30, said Chief Financial Officer Dave Devoe.
The company expects double-digit growth from its cable networks offsetting in fiscal 2013 compensating weaker performance at such units as Sky Italia.
"And I'd say our cable networks' (advertising revenues) are much stronger than that," said the CFO.
At its cable networks, operating profit rose 26% on a 16% increase in affiliate fee revenue from cable, phone and satellite TV distributors.
Advertising revenue at its domestic cable channels rose 5%. Operating income at the company's movie unit fell 43% to $120 million.
Fox Broadcasting saw operating income drop 8.5%.
Affected by the a litigation settlement charge at its Harper Collins book publisher News Corp's publishing business reported a 48% drop in operating income to $139 million as advertising revenue at its UK and Australian newspapers fell.
Earlier in June News Corp said it would separate its publishing and entertainment assets by 2013 to satisfy shareholders.
News Corp took a charge of some $224 million related to the hacking investigation in fiscal 2012.