Press release
News Corporation Reports First Quarter Results for Fiscal 2020
FISCAL 2020 FIRST QUARTER KEY FINANCIAL HIGHLIGHTS Revenues were $2.34 billion, a 7% decline compared to $2.52 billion in the prior year, which reflects the
About this update from News Corporation
[{"type":"text","content":"\nFISCAL 2020 FIRST QUARTER KEY FINANCIAL HIGHLIGHTS\n\n\n\nRevenues were $2.34 billion, a 7% decline compared to $2.52 billion in the prior year, which reflects the negative impact from currency headwinds and the absence of a one-time benefit in the prior year relating to the exit from Sun Bets\n\n\nNet loss was ($211) million compared to net income of $128 million in the prior year. The loss includes non-cash impairment charges of $273 million\n\n\nTotal Segment EBITDA was $221 million compared to $358 million in the prior year\n\n\nReported EPS were ($0.39) compared to $0.17 in the prior year – Adjusted EPS were $0.04 compared to $0.17 in the prior year\n\n\nAnnounced in October a multi-year content partnership with Facebook for The Wall Street Journal, Barron’s Media Group and the New York Post – expected to drive incremental revenue and Segment EBITDA\n\n\nExpanded relationship with Apple to include News Corp publications in the U.K. and Australia for the launch of Apple News Plus in the respective regions\n\n\nSubscribers to Dow Jones’ consumer products grew 9% to approximately 3.3 million reflecting 17% growth in digital-only subscribers at The Wall Street Journal to nearly 1.9 million\n\n\nRevenues at Move, home of realtor.com®, grew 4% driven by 11% growth in real estate revenues compared to the prior year, with significantly larger audience, which rose 18% in the quarter, and improved lead volume\n\n\n NEW YORK--(BUSINESS WIRE)--\nNews Corporation (“News Corp” or the “Company”) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended September 30, 2019.\n\n\nCommenting on the results, Chief Executive Robert Thomson said:\n\n\n“In the first quarter of Fiscal Year 2020, News Corp showed strong growth at Dow Jones and higher revenues at Move, the operator of realtor.com®, but the results were affected by pronounced currency headwinds, a particularly sluggish Australian economy and property market, and comparisons with a prior year in which there was a significant one-time revenue item.\n\n\nWe are pleased to note tangible progress in our efforts to secure payment for our high-quality content from digital platforms, a global cause which News Corp has led for more than a decade. With the dominant platforms under intense regulatory scrutiny, there has been a fundamental shift in the co...