NOTE 23. QUARTERLY DATA (UNAUDITED)

For convenience purposes, all references to September 30, 2017 and September 30, 2016 refer to the three months ended October 1, 2017 and October 2, 2016, respectively. All references to December 31, 2017 and December 31, 2016 refer to the three months ended December 31, 2017 and January 1, 2017, respectively. All references to March 31, 2018 and March 31, 2017 refer to the three months ended April 1, 2018 and April 2, 2017, respectively.


	For the three months ended
	September 30,			December 31,			March 31,			June 30,
	(in millions, except per share amounts)
Fiscal 2018
Revenues^(a)	$	2,058		$	2,180		$	2,093		$	2,693
Net income (loss)^(b)		87			(66	)		(1,110	)		(355	)
Net income (loss) attributable to News Corporation stockholders		68			(83	)		(1,128	)		(371	)
Income (loss) available to News Corporation stockholders per share—basic and diluted	$	0.12		$	(0.14	)	$	(1.94	)	$	(0.64	)

Fiscal 2017
Revenues	$	1,965		$	2,116		$	1,978		$	2,080
Net loss^(c)		—			(219	)		—			(424	)
Net loss attributable to News Corporation stockholders		(15	)		(289	)		(5	)		(429	)
Loss available to News Corporation stockholders per share—basic and diluted	$	(0.03	)	$	(0.50	)	$	(0.01	)	$	(0.74	)

^(a)	Revenue for the three months ended June 30, 2018 includes the impact of the consolidation of Foxtel.

^(b)	Net income (loss) for the fiscal year ended June 30, 2018 includes the impact of the following items:

•

During the third quarter of fiscal 2018, the Company recognized a $957 million non-cash write-down of the carrying value of its investment in Foxtel. See Note 6—Investments.

•

During the third quarter of fiscal 2018, the Company recognized non-cash impairment charges of $225 million primarily related to the impairment of goodwill and intangible assets at the News America Marketing reporting unit and impairment of goodwill at the FOX SPORTS Australia reporting unit. See Note 8—Goodwill and Other Intangible Assets.

•

During the fourth quarter of fiscal 2018, the loss on the Transaction primarily relates to the Company’s, settlement of its pre-existing contractual arrangement between Foxtel and FOX SPORTS Australia which resulted in a $317 million write-off of its channel distribution agreement intangible asset at the time of the Transaction. See Note 3—Acquisitions, Disposals and Other Transactions.

^(c)	Net loss for the fiscal year ended June 30, 2017 includes the impact of the following items:

•

During the second quarter of fiscal 2017, the Company recognized a non-cash impairment charge of approximately $310 million primarily related to the write-down of fixed assets at the Australian newspapers. See Note 7—Property, Plant and Equipment. The Company also recognized a $227 million non-cash write-down of the carrying value of its investment in Foxtel to fair value. See Note 6—Investments.

•

During the second quarter of fiscal 2017, REA Group sold its European business which resulted in a pre-tax gain of $120 million. The gain was partially offset in the third quarter of fiscal 2017 by $13 million related to the impact of foreign currency fluctuations on the receipt of the sales proceeds, which were received in February 2017, and certain other currency translation impacts. See Note 3—Acquisitions, Disposals and Other Transactions. See Note 7—Property, Plant and Equipment.

•

During the fourth quarter of fiscal 2017, the Company recognized approximately $464 million in impairment charges, primarily related to the write-down of fixed assets at the U.K. newspapers. See Note 7—Property, Plant and Equipment.