News Corporation Reports 6% Revenue Growth to $2.36B, Boosts EBITDA 9%
News Corp’s Q2 revenues rose 6% to $2.36B, and segment EBITDA grew 9% to $521M, while net income fell 21% to $242M. Dow Jones and Digital Real Estate Services each delivered 8% growth, as News Corp ramped buybacks to 4x its prior pace.
1. Revenue and Profitability Acceleration in Q2
News Corporation delivered a 6% year-over-year increase in total revenues to $2.36 billion for the quarter ended December 31, 2025, up from $2.24 billion a year earlier. Total Segment EBITDA rose 9% to $521 million, driven by strong performance at Dow Jones and Digital Real Estate Services. Foreign currency movements contributed $26 million of incremental revenue. Adjusted revenues—excluding the effects of recent acquisitions, divestitures and FX—grew 3%, while adjusted Segment EBITDA rose 7%. However, net income from continuing operations declined 21% to $242 million, reflecting the absence of an $87 million gain on last year’s PropertyGuru sale, partly offset by higher segment earnings. Adjusted EPS improved to $0.40 from $0.33 a year ago, underscoring improved core operating profitability.
2. Dow Jones Information Services Powers Growth
The Dow Jones segment recorded an 8% revenue increase to $648 million, up from $600 million, with accelerated momentum from Q1. Circulation and subscription revenues grew 8%, led by a 20% jump in Risk & Compliance revenues to $96 million and 10% growth in Energy information to $75 million. Consumer subscriptions averaged over 6.5 million—10% higher—driven by a 13% rise in digital‐only Wall Street Journal subscriptions to 4.3 million. Advertising revenues climbed 10%, with digital ad revenues up 12% and record digital EBITDA margins near 30%. Adjusted EBITDA for Dow Jones increased 9%, and an investor briefing is scheduled in New York next month to showcase AI content partnerships and premium IP licensing.
3. Digital Real Estate Services Sustains Double-Digit Profit Expansion
Revenues at Digital Real Estate Services reached $511 million, up 8% year-over-year, fueled by a 7% rise at REA Group and 10% growth at Move. REA Group posted $368 million in revenues—the result of price adjustments, new add-on products and stronger Australian residential listings despite a 3% decline in national buy listings. Move generated $143 million, driven by higher-value RealPRO Select lead sales and a 13% increase in lead volumes. Segment EBITDA expanded 11% to $206 million, with adjusted EBITDA up 12%. Move’s platforms attracted an average of 62 million unique users monthly, and Realtor.com® achieved 241 million visits in the quarter, capturing further audience share from competitors.
4. Capital Returns and Confidence in Outlook
The Company accelerated its share repurchase program to over four times the prior rate, reflecting strong free cash flow generation and management’s confidence in intrinsic value. CEO Robert Thomson highlighted favorable signals for H2, citing sustained momentum in core drivers and evolving AI content demand—evidenced by expanded AI licensing with Bloomberg. Management reiterated an auspicious third-quarter outlook, expecting further profitability gains at Dow Jones and Digital Real Estate Services, and underscored the importance of premium content provenance in a rapidly shifting information services landscape.