News Corp has praised The Sun’s "strong" digital advertising growth for the three months ending 31 December 2019.
The company, which released its second-quarter financial results last night (Thursday), reported a marginal 1% year-on-year fall in revenue for its news and information division to $16m. However, revenue at News UK, its newspaper arm, grew 2%.
Ad revenue for News Corp dropped 5% year on year, of which it said $7m (1%) was because of "the negative impact from foreign currency fluctuations". News Corp did not give an ad revenue figure for News UK, which publishes The Sun and The Times.
News Corp pointed out that the decline was down to a weak print advertising market in Australia and "lower home delivered revenues, which include free-standing insert products" in the US.
However, the company added that the decline in ad revenue was mitigated by growth at News UK, "led by strong digital advertising growth at The Sun".
The financial report also revealed that The Times and The Sunday Times digital subscribers grew 19% to 320,000. The Sun reached 140 million global monthly unique users in December – News Corp said it was unable to provide a year-on-year comparison because of a source change.
News Corp chief executive Robert Thomson said: "Our news and information services segment posted notably higher profitability, driven by a strong increase at News UK, as well as continued growth at Dow Jones."