Quarterly Data

12 Months Ended

Jun. 30, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Data

NOTE 23. QUARTERLY DATA (UNAUDITED)

For convenience purposes, all references to September 30, 2018 and September 30, 2017 refer to the three months ended September 30, 2018 and October 1, 2017, respectively. All references to December 31, 2018 and December 31, 2017 refer to the three months ended December 30, 2018 and December 31, 2017, respectively. All references to March 31, 2019 and March 31, 2018 refer to the three months ended March 31, 2019 and April 1, 2018, respectively.

	For the three months ended
	September 30,		December 31,			March 31,			June 30,
	(in millions, except per share amounts)
Fiscal 2019
Revenues(a) (b)	$	2,524	$	2,627		$	2,457		$	2,466
Net income (loss)(c)		128		119			23			(42	)
Net income (loss) attributable to News Corporation stockholders		101		95			10			(51	)
Income (loss) available to News Corporation stockholders per share—basic and diluted	$	0.17	$	0.16		$	0.02		$	(0.09	)
Fiscal 2018
Revenues(a) (b)	$	2,058	$	2,180		$	2,093		$	2,693
Net income (loss)(d)		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	)

(a) Revenue for the fiscal year ended June 30, 2019 and for the three months ended June 30, 2018 includes the impact of the consolidation of Foxtel.

(b) Revenue for the fiscal year ended June 30, 2019 reflects the adoption of the new revenue recognition standard. See Note 3—Revenues.

(c) Net income (loss) for the fiscal year ended June 30, 2019 includes the impact of the following items:

• During the fourth quarter of fiscal 2019, the Company recognized non-cash impairment charges of $87 million primarily related to the impairment of goodwill at a reporting unit within the News and Information Services segment. See Note 8—Goodwill and Other Intangible Assets.

(d) 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 4—Acquisitions, Disposals and Other Transactions.