Press release
News Corporation Reports Second Quarter Results for Fiscal 2020
Fiscal 2020 Second Quarter Key Financial Highlights Revenues were $2.48 billion, a 6% decline compared to $2.63 billion in the prior year Net income was $103
About this update from News Corporation
[{"type":"text","content":"\nFiscal 2020 Second Quarter Key Financial Highlights\n\n\n\nRevenues were $2.48 billion, a 6% decline compared to $2.63 billion in the prior year\n\n\nNet income was $103 million compared to $119 million in the prior year\n\n\nTotal Segment EBITDA was $355 million compared to $370 million in the prior year\n\n\nReported diluted EPS were $0.14 compared to $0.16 in the prior year – Adjusted EPS were $0.18, flat with the prior year\n\n\nCompleted the sale of Unruly to Tremor International in January\n\n\nDow Jones results reflected 17% growth in digital-only subscribers, continued strength in Risk and Compliance\n\n\nNews UK saw growth in advertising revenues and contributed to strong Segment EBITDA growth at the News and Information Services segment\n\n\nProfitability contribution from Move, operator of realtor.com®, increased while the referral model continues to show promising signs with improvement in close rates and other key metrics\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 December 31, 2019.\n\n\nCommenting on the results, Chief Executive Robert Thomson said:\n\n\n“In the second quarter of Fiscal 2020, News Corp saw growth at several of our news businesses and an increased profit contribution from Move, operator of realtor.com®. The results were affected by a sluggish Australian economy, uncharacteristic softness in book publishing, and foreign exchange fluctuations. We expect improvement in the second half as real estate markets show signs of gradual recovery, Dow Jones benefits from new content licensing arrangements and higher digital subscribers, and HarperCollins capitalizes on an exciting slate of new releases. \n\n\nOur News and Information Services segment posted notably higher profitability driven by a strong increase at News UK as well as continued growth at Dow Jones, where consumer subscriptions recently reached a record 3.5 million, including two million digital-only subscribers at The Wall Street Journal. I would particularly like to highlight the Risk and Compliance business, which is flourishing, with over 20 percent revenue growth for the twelfth consecutive quarter. Client companies are wisely seeking to minimize risk and maximize compliance. \n\n\nWe are seeing signific...