Rupert Murdoch's News Corp has reported a slide in revenue as newspaper advertising declines.

Total revenue for the publishing conglomerate in the second quarter was down 4 per cent to $2.25 billion.

During the period, revenue from Australian newspapers dropped 17 per cent, partially because of a change in the currency but also because advertising earnings dropped 10 per cent, and circulation and subscriptions fell.

Mr Murdoch's entertainment conglomerate, 21st Century Fox, has also reported a drop in quarterly profits, despite revenues rising.

In the quarter ending December 31, net profits fell by half to US$1.2 billion (A$1.34 billion).

Revenues were up 15 per cent at US$8.2 billion ($9.15 billion).

Mr Murdoch, who split his entertainment and publishing interests last year, welcomed "top-line revenue growth across our businesses".

He said the 21st Century Fox results reflected planned investments in core businesses to support long-term growth.

"We remain confident that these investments, together with our demonstrated ability to consistently grow our revenues, will drive 21st Century Fox's future profits," he said.

Shares in 21st Century Fox rose 2.6 per cent to $35.72.

The results show the Fox cable television operation was the only unit with growth in operating earnings.

Other units, including broadcast television, satellite and film, show profit declines.

ABC/AFP