News Corp Q1 adjusted profit beats estimates on digital real estate, Dow Jones growth
NWSA•NWSA•NWSA•NWSA•News Corp’s fiscal first-quarter revenue rose 6% to $2.28 billion, slightly above the $2.27 billion estimate, while adjusted EPS of $0.28 beat the $0.26 estimate. Net income climbed 43% to $215 million.
News Corp reported fiscal first-quarter revenue of $2.28 billion, up 6% and slightly above analyst expectations. Adjusted EPS was $0.28, ahead of the $0.26 estimate; net income rose 43% to $215 million, and segment EBITDA was $403 million.
Dow Jones revenue grew 8%, driven by higher circulation, licensing and digital advertising revenue; digital-only subscriptions to The Wall Street Journal rose 11%. Digital Real Estate Services revenue increased 10%, led by price increases and product growth at REA Group and higher sales of Move’s RealPRO Select, despite lower user volumes at Realtor.com. Book Publishing revenue rose 9% on strong physical and digital sales and higher audiobook sales.
