Quarterly Data (Unaudited)

12 Months Ended

Jun. 30, 2020

Quarterly Financial Information Disclosure [Abstract]

NOTE 24. QUARTERLY DATA (UNAUDITED)

For convenience purposes, all references to September 30, 2019 and September 30, 2018 refer to the three months ended September 29, 2019 and September 30, 2018, respectively. All references to December 31, 2019 and December 31, 2018 refer to the three months ended December 29, 2019 and December 30, 2018, respectively. All references to March 31, 2020 and March 31, 2019 refer to the three months ended March 29, 2020 and March 31, 2019, respectively.


	For the three months ended
	September 30,		December 31,		March 31,		June 30,
	(in millions, except per share amounts)
Fiscal 2020
Revenues	$	2,340	$	2,479	$	2,266	$	1,923
Net income (loss) ^(a)	(211)		103		(1,036)		(401)
Net income (loss) attributable to News Corporation stockholders	(227)		85		(730)		(397)
Income (loss) available to News Corporation stockholders per share—basic	$	(0.39)	$	0.15	$	(1.24)	$	(0.67)
Income (loss) available to News Corporation stockholders per share—diluted	$	(0.39)	$	0.14	$	(1.24)	$	(0.67)
Fiscal 2019
Revenues	$	2,524	$	2,627	$	2,457	$	2,466
Net income (loss) ^(b)	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)

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(a)Net income (loss) for the fiscal year ended June 30, 2020 includes the impact of the following items:

•During the first quarter of fiscal 2020, the Company recognized non-cash impairment charges of $273 million primarily related to the impairment of goodwill at its News America Marketing reporting unit. See Note 8—Goodwill and Other Intangible Assets.

•During the third quarter of fiscal 2020, the Company recognized non-cash impairment charges of $1,106 million, primarily related to the impairment of goodwill and indefinite-lived intangible assets at its Foxtel reporting unit, as well as a non-cash impairment charge resulting from the reclassification of its News America Marketing reporting unit to assets held for sale. See Note 8—Goodwill and Other Intangible Assets.

•During the fourth quarter of fiscal 2020, the Company recognized non-cash impairment charges of $292 million primarily related to fixed assets, goodwill and indefinite-lived intangible assets resulting from its annual impairment test. See Note 7—Property, Plant and Equipment and Note 8—Goodwill and Other Intangible Assets.

(b)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 Media segment. See Note 8—Goodwill and Other Intangible Assets.