Press release
News Corporation Reports Second Quarter Results for Fiscal 2023
FISCAL 2023 SECOND QUARTER KEY FINANCIAL HIGHLIGHTS Revenues in the quarter were $2.52 billion, a 7% decrease compared to $2.72 billion in the prior year,
About this update from News Corporation
[{"type":"text","content":"\nFISCAL 2023 SECOND QUARTER KEY FINANCIAL HIGHLIGHTS\n\n\nRevenues in the quarter were $2.52 billion, a 7% decrease compared to $2.72 billion in the prior year, reflecting a $171 million, or 6%, negative impact from foreign currency fluctuations. Adjusted Revenues decreased 3%\n\n\nNet income in the quarter was $94 million compared to $262 million in the prior year\n\n\nTotal Segment EBITDA in the quarter was $409 million compared to $586 million in the prior year\n\n\nIn the quarter, reported EPS were $0.12 compared to $0.40 in the prior year – Adjusted EPS were $0.14 compared to $0.44 in the prior year\n\n\nAt the Dow Jones segment, revenues from its professional information business grew 45%, benefiting from the acquisitions of OPIS and CMA and the ongoing momentum in its Risk & Compliance products\n\n\nAt the Subscription Video Services segment, higher streaming revenues from Foxtel’s Kayo and BINGE continued to offset broadcast revenue declines\n\n\nRevenues at News UK continued to benefit from strong digital advertising revenue growth at The Sun, highlighting the brand’s successful expansion into the U.S. and increase in yield\n\n\nEngaged in discussions with CoStar Group regarding a potential sale of Move\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, 2022.\n\nCommenting on the results, Chief Executive Robert Thomson said:\n\n“The second quarter highlighted the progress made in certain of our business segments. Obviously, a surge in interest rates and acute inflation had a tangible impact on all of our businesses. But we believe these challenges are more ephemeral than eternal. Just as our company passed the stress-test of the pandemic with record profits, the initiatives now underway, including an expected 5 percent headcount reduction, or around 1,250 positions this calendar year, will create a robust platform for future growth.\n\nEven in the midst of the obvious global challenges, the professional information business at Dow Jones displayed particular promise, with revenues surging 45 percent year-over-year. That encouraging result highlights the value of our opportunistic acquisitions of OPIS and CMA, and continuing growth at our burgeoning Risk and Compliance business.\n\...