Press release
News Corporation Reports Third Quarter Results for Fiscal 2024
FISCAL 2024 THIRD QUARTER KEY FINANCIAL HIGHLIGHTS Third quarter revenues were $2.42 billion, a 1% decrease compared to $2.45 billion in the prior year,
About this update from News Corporation
[{"type":"text","content":"\nFISCAL 2024 THIRD QUARTER KEY FINANCIAL HIGHLIGHTS\n\n\n\nThird quarter revenues were $2.42 billion, a 1% decrease compared to $2.45 billion in the prior year, reflecting a $21 million, or 1%, negative impact from foreign currency fluctuations. Adjusted Revenues were flat compared to the prior year\n\n\n\nNet income in the quarter was $42 million, compared to net income of $59 million in the prior year\n\n\n\nThird quarter Total Segment EBITDA was $322 million, compared to $320 million in the prior year\n\n\n\nIn the quarter, reported EPS were $0.05 as compared to $0.09 in the prior year - Adjusted EPS were $0.11 compared to $0.09 in the prior year\n\n\n\nAt the Dow Jones segment, professional information business revenues grew 10% compared to the prior year, driven by the continued success of Risk & Compliance and Dow Jones Energy, which each grew 15%\n\n\n\nDow Jones achieved its highest sequential quarterly net additions for digital subscriptions of 322 thousand, reaching over 5 million Dow Jones digital subscriptions for the quarter\n\n\n\nREA Group posted strong results with quarterly revenues of $256 million, a 15% increase compared to the prior year, primarily driven by robust Australian residential performance\n\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 March 31, 2024.\n\n\nCommenting on the results, Chief Executive Robert Thomson said:\n\n\n“News Corp has again made substantial progress on our strategic imperative to transform the company and increase value for all shareholders.\n\n\nNews Corp’s profitability rose slightly in the third quarter as compared to the prior year, continuing our growth this fiscal year — and that increase, which gathered pace in April, follows the three most profitable years since the company was reincarnated in 2013.\n\n\nWe are in the midst of an exponential digital revolution, and our own company has continued to change significantly and profitably. Importantly, we are working to promote our quality journalism in the age of Generative AI and are gratified that the most enlightened leaders in the industry appreciate the commercial and social value of that content.\n\n\nSeparately, we have this week extended our existing partnership with Google.\n\n\nAs m...