News Corp · Q3 2024 earnings

Briefing

News Corp's profitability rose slightly, driven by growth in professional information business and REA Group, but offset by declines in advertising and book sales.

News Corp reported a slight increase in profitability for Q3 2024, with revenues of $2.42 billion, a 1% decrease compared to the prior year. Net income was $42 million, down from $59 million in the prior year. Total Segment EBITDA was $322 million, a 1% increase. Adjusted EPS were $0.11 compared to $0.09 in the prior year. Dow Jones saw growth in its professional information business, while REA Group posted strong results driven by Australian residential performance.

• Q3 revenues decreased by 1% to $2.42 billion, impacted by foreign currency fluctuations.
• Net income decreased to $42 million, compared to $59 million in the prior year.
• Total Segment EBITDA increased by 1% to $322 million, driven by REA Group and Dow Jones.
• Adjusted EPS increased to $0.11, compared to $0.09 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.