News Corp posted a 9% rise in revenue to nearly $2.2 billion for its fiscal third quarter ended March 31, beating analyst forecasts and driven by growth at Dow Jones, HarperCollins Publishers, and its digital real-estate services businesses.
The media company also reported an 18% increase in segment EBITDA to $343 million, a 13% rise in net income from continuing operations to $121 million, and adjusted earnings per share of 21 cents — topping the 19 cents expected by analysts polled by FactSet. Earnings per share from continuing operations rose to 16 cents from 14 cents a year earlier.
Chief Executive Robert Thomson said the company remains on track for another year of record profitability.
Segment Performance
- Dow Jones (publisher of The Wall Street Journal, MarketWatch, and Barron’s): Revenue climbed 8% to $619 million, with segment earnings up 11% to $147 million.
- Advertising revenue grew 6%, led by a 13% jump in digital ads.
- Digital-only subscriptions at The Wall Street Journal rose to 4.33 million from 4.29 million in the prior quarter; total subscriptions (including print) averaged 4.71 million, up from 4.68 million.
- HarperCollins Publishers: Revenue increased 8% to $555 million, supported by strong titles such as Rachel Reid’s “Game Changers” hockey romance series.
Digital Real-Estate Services (including stakes in Move and REA Group): Revenue surged 17% to $473 million, while segment earnings rose 25% to $155 million.
Outlook: Thomson noted that News Corp, which already has licensing deals with OpenAI and Meta Platforms, is in discussions with additional companies that “recognize the preciousness of provenance.”