Breaking News
May 26, 2023
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News Corp increased 6.0% to $17.75 after the media company reported higher-than-expected quarterly revenue.
Revenue in the March quarter declined 2% to $2.45 billion from $2.49 billion, reflecting 4% negative impact from foreign currency fluctuations.
Net income in the quarter declined to $59 million from $104 million and diluted earnings per share dropped to 9 cents from 14 cents a year ago.
Revenue in the Dow Jones segment increased 9% to $529 million, digital real estate services which includes Realtor.com declined 13% to $363 million and book publishing which includes Harper Collins was flat at $515 million.
Broadcast media residential subscribers declined to 1.37 million from 1.52 million and commercial subscribers fell to 233,000 from 240,000 a year ago.
During the third quarter, total average subscriptions to Dow Jones’ consumer products increased 6% to 5.1 million and digital-only subscriptions to Dow Jones’ consumer products grew 10%.
Total subscriptions to The Wall Street Journal rose 5% compared to the prior year, to nearly 3.9 million average subscriptions in the quarter.
Digital-only subscriptions to The Wall Street Journal increased 9% to 3.3 million average subscriptions in the quarter, and represented 85% of total Wall Street Journal subscriptions.
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