WSJ publisher News Corp beats revenue estimates on real estate, Dow Jones strength

News Corp said it is benefiting from its pivot from traditional print media to a digital-first content business, positioning it to capitalize on the AI boom through licensing deals with technology companies.

“We have trusted content relationships with OpenAI and Meta, and are in advanced discussions with several other companies,” CEO Robert Thomson said.

The media conglomerate said growth in its digital real estate, book publishing and Dow Jones subscription businesses helped drive results.

Dow Jones revenue grew 7% during the quarter, while digital real estate services revenue rose 19%.

Aug. 5 (Reuters) - Wall Street Journal publisher News Corp reported fourth-quarter revenue of $2.34 billion, beating analysts’ average estimate of $2.23 billion, according to data compiled by LSEG.

Adjusted earnings per share nearly doubled to $0.35, from $0.19 a year ago, and also beat analysts’ estimate of $0.21.