Press release
News Corporation Reports Fourth Quarter and Full Year Results for Fiscal 2020
FISCAL 2020 FOURTH QUARTER KEY FINANCIAL HIGHLIGHTS Beginning with the fourth quarter, the Company is presenting Dow Jones as a separate reportable segment,
About this update from News Corporation
[{"type":"text","content":"\nFISCAL 2020 FOURTH QUARTER KEY FINANCIAL HIGHLIGHTS\n\n\n\nBeginning with the fourth quarter, the Company is presenting Dow Jones as a separate reportable segment, which better highlights its growth and value; Dow Jones Segment EBITDA grew 13% in the fourth quarter \n\n\nRevenues were $1.92 billion, a 22% decline compared to $2.47 billion in the prior year, primarily driven by the negative impacts related to COVID-19 and the sale of News America Marketing \n\n\nNet loss of $(401) million, which includes non-cash impairment charges of $292 million and higher restructuring costs due to COVID-19, compared to $(42) million in the prior year\n\n\nTotal Segment EBITDA was $195 million compared to $269 million in the prior year; decline reflects the negative impacts related to COVID-19 and the sale of News America Marketing\n\n\nReported EPS were $(0.67) compared to $(0.09) in the prior year – Adjusted EPS were $(0.03) compared to $0.07 in the prior year\n\n\nIn the fourth quarter, Segment EBITDA at Book Publishing grew 9%, partly as a result of the strong performance in digital revenues which increased 26% and represented 29% of its Consumer revenues\n\n\nMove, operator of realtor.com®, increased its profit contribution in the fourth quarter and saw record traffic in June with over 30% growth in unique users\n\n\nIn the quarter, Dow Jones achieved record average subscriptions of 3.8 million to its consumer products, led by 28% growth in digital-only subscriptions, including 23% growth in digital-only subscriptions at The Wall Street Journal \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 and fiscal year ended June 30, 2020.\n\n\nCommenting on the results, Chief Executive Robert Thomson said:\n\n\n“The resegmentation of News Corp is a particularly historic moment and a fulfillment of our pledge to make the Company more transparent and its potential more obvious. The presentation of Dow Jones as a separate segment highlights what we believe are two incontrovertible facts: the substantial and growing value of that business; and its superior profit profile and prospects compared to those of our nearest competitor. In what has been a difficult year for many media companies, Dow Jones reported a 13 percent increas...