Press release
News Corporation Reports First Quarter Results for Fiscal 2021
FISCAL 2021 FIRST QUARTER KEY FINANCIAL HIGHLIGHTS Revenues were $2.12 billion, a 10% decline compared to $2.34 billion in the prior year, primarily driven
About this update from News Corporation
[{"type":"text","content":"\nFISCAL 2021 FIRST QUARTER KEY FINANCIAL HIGHLIGHTS\n\n\nRevenues were $2.12 billion, a 10% decline compared to $2.34 billion in the prior year, primarily driven by the sale of News America Marketing\n\n\nNet income of $47 million compared to a net loss of $(211) million in the prior year, which included non-cash impairment charges of $273 million\n\n\nTotal Segment EBITDA was $268 million compared to $221 million in the prior year\n\n\nReported EPS were $0.06 compared to $(0.39) in the prior year – Adjusted EPS were $0.08 compared to $0.04 in the prior year\n\n\nSegment EBITDA at Digital Real Estate Services grew 45%, with record revenue and profit contribution by Move, operator of realtor.com®, led by its referral model\n\n\nSegment EBITDA at Dow Jones grew 47%, driven by record average consumer product subscriptions of 3.88 million, led by 29% growth in digital-only subscriptions\n\n\nBook Publishing saw 13% and 45% growth in revenues and Segment EBITDA, respectively, benefiting from continued strong performance in digital sales\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, 2020.\n\nCommenting on the results, Chief Executive Robert Thomson said:\n\n“News Corp has started the fiscal year strongly, with higher revenue in many of our segments during the first quarter, and a 21 percent increase year-on-year in profitability, despite the disruptive economic consequences of COVID-19.\n\nTotal revenues for the quarter were $2.1 billion, a fall of 10 percent, but that contraction was largely due to the sale of News America Marketing, and the adjusted decline was 3 percent. Meanwhile, three of our segments, Dow Jones, Digital Real Estate Services and Book Publishing, reported year-over-year Segment EBITDA increases of at least 45 percent, highlighting the success of our investment strategy in publishing and digital real estate.\n\nDow Jones posted a record first quarter in profitability and higher revenues, thanks to its role as one of the world’s most trusted providers of business news and analysis. There is undoubted U.S. and international potential for Dow Jones to expand audiences and revenues, and the team is pleased by the early returns on a subscriber offering for the previously fr...