News (NWSA) Revenue — Quarter Ended Jun 30, 2023
Revenue declined dramatically in the quarter, falling sharply from both the prior quarter and the same period last year.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q4
Revenue declined dramatically in the quarter, falling sharply from both the prior quarter and the same period last year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$566M
Revenue reported for this quarter.
Quarter-over-quarter
-76.9%
Change from the immediately preceding quarter.
Year-over-year
-78.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $2.5B | -1.0% |
| Dec 31, 2022 | $2.5B | -7.2% |
| Mar 31, 2023 | $2.4B | -1.8% |
| Jun 30, 2023 | $566M | -78.8% |
Revenue performance
Revenue was significantly lower than in the preceding quarter and the year-ago quarter, marking a substantial contraction.
Quarterly comparison
Sequentially, revenue dropped steeply from the previous quarter's level. On a year-over-year basis, revenue also experienced a severe decline.
What to watch
The sharp revenue decline merits close monitoring for underlying business trends.