"Looks like News Corp. was a little too optimistic when the company told investors in May that it expected a decline of around 30 percent in fiscal-year-adjusted operating income.
Reporting earnings this afternoon, the publisher of The Wall Street Journal and this Web site instead posted a decline of 32.5 percent.
And, to think, News Corp. lowered that forecast twice last fall.
Anyway, the company lost $203 million, or eight cents a share, in its fiscal fourth quarter. Revenue fell 10.5 percent to $7.67 billion, dragged down by a decrease in ad revenue and $403 million in impairment charges and $228 million in restructuring costs, both largely attributable to, ahem, “red-hot social networking site” MySpace."
from All Things Digital
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Comment: Message to Rupert Murdoch: BUY BLINKX, DUMBASS!
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