News Corp · Q1 2024 earnings

Briefing

News Corp's first quarter of fiscal year 2024 saw increased revenues and profitability, driven by strong performance in Book Publishing and Dow Jones segments, despite challenging economic conditions.

News Corp reported a 1% increase in revenue to $2.50 billion, driven by growth in Book Publishing and Dow Jones. Net income was $58 million, and adjusted EPS was $0.16. The company highlighted the prowess of Dow Jones and a 67 percent increase in profitability in Book Publishing.

• First quarter revenues increased by 1% to $2.50 billion, driven by growth in Book Publishing and Dow Jones segments.
• Net income for the quarter was $58 million, a decrease from $66 million in the prior year.
• Total Segment EBITDA increased by 4% to $364 million.
• Adjusted EPS were $0.16, compared to $0.12 in the prior year.

Headline financials

Revenue & EPS history

This document contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding trends and uncertainties affecting the Company’s business, results of operations and financial condition, the Company’s strategy and strategic initiatives, including potential acquisitions, investments and dispositions, the Company’s cost savings initiatives, including announced headcount reductions, and the outcome of contingencies such as litigation and investigations.