MySpace Revenues Up, Profits Down
By Anna Johnson on August 8th, 2008Looking at News Corporation’s financial results for the fourth quarter ended June 30, 2008, it appears that the company’s online division – comprising MySpace – has increased revenues, whilst earning less profit.
Given that MySpace forms part – albeit the main part of News Corp’s Fox Interactive Media (FIM) – and its reporting doesn’t distinguish between the results of FIM and those of MySpace, it’s impossible to say precisely how MySpace fared in the last quarter. However, if FIM’s performance does mainly reflect that of MySpace, then it’s indicative that FIM’s fourth quarter revenues were $225 million – up 23 percent from its Q4, 2007 revenues, and up from the $210 million in Q3, but down from the $233 million in Q2.
And while News Corp’s quarterly report doesn’t specify the actual profits achieved by FIM in Q2, the company did reveal, during a conference call, that higher costs had caused FIM’s operating income to decrease for the quarter.
