News Corp beat estimates for fourth-quarter revenue and profit on Thursday, driven by strength in its Dow Jones unit and strong performance in its real estate listing and book publishing businesses, sending its shares up 4% in extended trading.
The company said it was also evaluating options for Foxtel, its Australia-based subscription television provider, in response to interest from a third party.
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| Rupert Murdoch |
The London Stock Exchange Group signed a multi-year news and data partnership with Dow Jones last month and Sam Altman-led OpenAI has partnered with the company for access to its news content.
News Corp, part of media mogul Rupert Murdoch's empire, has benefited from continued growth in its business information unit, Dow Jones, which includes publications such as The Wall Street Journal, Barron's and Market Watch.
Revenue from its book publishing unit, which consists of HarperCollins, rose 15% on higher sales of its physical and digital books.
However, revenue from its news media unit, which includes News Corp Australia, News UK and the New York Post, fell 5%, hit by lower advertising, circulation and subscription revenues.
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