News Corp

NWS

Equity

ISIN US65249B1098 / Valor 21211854

NASDAQ (2024-11-20)

USD 31.69-0.28%

News Corp
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About company

News Corp is a global, diversified media and information services company that has significantly evolved since its inception as a small newspaper in Australia in the 1920s. Under the leadership of Rupert Murdoch and his father, Sir Keith Murdoch, the company has expanded to include a wide range of media, news, and publishing operations. Its portfolio includes HarperCollins, a major publishing house with a history spanning two centuries, operations in 17 countries, and over 120 branded imprints, publishing around 10,000 new books annually in 16 languages. In the broadcasting sector, News Corp owns Foxtel, a joint venture with Telstra in Australia, offering a 20-channel service, and FOX SPORTS Australia. The company also operates in the digital real estate market through Move Inc. and its subsidiaries, which manage realtor.com®, a pioneering property listings website. Additionally, News Corp's Dow Jones owns The Wall Street Journal, a leading daily business newspaper, and produces The Journal., a flagship daily business podcast. The company has also engaged in significant partnerships, such as a multi-year agreement with Facebook to provide access to news in Australia through Facebook News, showcasing its adaptability and influence in the modern media landscape.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Revenue Growth

News Corp reported fiscal 2024 fourth quarter total revenues of $2.58 billion, a 6% increase compared to $2.43 billion in the prior year period. This growth was primarily driven by higher Australian residential revenues at REA Group, higher physical and digital book sales combined with lower return rates at the Book Publishing segment, and continued growth in the professional information business at the Dow Jones segment.

Net Income

Net income for News Corp in the fiscal 2024 fourth quarter was $71 million, a significant improvement compared to a net loss of $(32) million in the prior year. This increase was primarily driven by improved losses from equity affiliates, higher Total Segment EBITDA, and lower impairment and restructuring charges.

Total Segment EBITDA

News Corp reported fourth quarter Total Segment EBITDA of $380 million, an 11% increase compared to $341 million in the prior year. This was the highest for a fourth quarter since separation, driven by strong contributions from the Book Publishing segment and REA Group.

Earnings Per Share

In the fiscal 2024 fourth quarter, News Corp's reported EPS were $0.09 as compared to $(0.01) in the prior year. Adjusted EPS were $0.17 compared to $0.14 in the prior year, reflecting the company's improved financial performance.

Full Year Financial Performance

For the full fiscal year 2024, News Corp reported total revenues of $10.09 billion, a 2% increase compared to $9.88 billion in the prior year. Net income for the full year was $354 million, an 89% increase compared to $187 million in the prior year, driven by higher Total Segment EBITDA and improved losses from equity affiliates.

Summarized from source with an LLMView Source

Key figures

42.9%1Y

42.0%3Y

141%5Y

Performance

21.3%1Y

29.5%3Y

34.3%5Y

Volatility