News Corp Reports Second Quarter Results for Fiscal 2025

News Corp Reports Second Quarter Results for Fiscal 2025

Fiscal 2025 Second Quarter Key Financial Highlights

Second quarter revenues were $2.24 billion, a 5% increase compared to $2.14 billion in the prior year, driven by growth at the Digital Real Estate Services, Book Publishing and Dow Jones segments

Net income from continuing operations in the quarter was $306 million, a 58% increase compared to $194 million in the prior year

Second quarter Total Segment EBITDA was $478 million, a 20% increase compared to $400 million in the prior year

In the quarter, reported EPS from continuing operations were $0.40 as compared to $0.28 in the prior year Adjusted EPS were $0.33 compared to $0.27 in the prior year

REA Group posted record revenues for the quarter of $343 million, a 17% increase compared to the prior year, driven by continued strong Australian residential performance

Dow Jones achieved record revenues for the quarter of $600 million, underpinned by improved circulation revenues and higher professional information business revenues driven by growth of 11% at Risk & Compliance and 10% at Dow Jones Energy

Book Publishing revenues grew 8% in the quarter, while Segment EBITDA increased 19%, driven by strong physical and digital book sales

Announced agreement to sell Foxtel to DAZN for A$3.4 billion enterprise value. Results from Foxtel are reflected as discontinued operations. This transaction will enable News Corp to further simplify to drive long-term stockholder value and increase focus on key growth pillars

New York, NY - February 5, 2025 - News Corporation ( News Corp or the Company ) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December 31, 2024.

Commenting on the results, Chief Executive Robert Thomson said:

News Corp had a fruitful quarter, qualitatively and quantitatively. Revenues on a continuing operations basis, which excludes Foxtel, grew 5 percent to $2.24 billion, net income from continuing operations surged 58 percent to $306 million and Total Segment EBITDA rose 20 percent to $478 million.

The three pillars of growth-Digital Real Estate, Dow Jones and Book Publishing-continued to expand Segment EBITDA robustly. We also saw the positive impact of rigorous cost discipline and digital development in the News Media segment, and our overall margin rose meaningfully compared to the prior year.

With a keen eye on those core areas of growth, we took a significant step towards simplification with the agreement to sell Foxtel to DAZN, a premier global sports streaming provider, for a total enterprise value of A$3.4 billion. The agreement is tangible recognition of Foxtel's successful digital transformation, and should surely benefit our shareholders, our partners at DAZN and all Australian sports fans.

We are providing priceless content for Generative AI, and remain vigilant in our pursuit of degenerative AI. We are pleased with our partnership with OpenAI and hope that other companies in the segment take a similarly enlightened approach. Our legal action against the perplexing Perplexity is underway and we look forward with relish to document discovery. The sudden rise of DeepSeek is itself a salutary lesson for all AI players. Data centers, chips, and energy costs aside, we believe DeepSeek lacks the immediacy of trusted news and, ultimately, content will be king in the world of AI.

SECOND QUARTER RESULTS

The Company reported fiscal 2025 second quarter total revenues of $2.24 billion, a 5% increase compared to $2.14 billion in the prior year period, primarily driven by higher Australian residential revenues at REA Group, higher book sales at the Book Publishing segment and higher circulation and subscription revenues at the Dow Jones segment, in addition to an $11 million, or 1%, positive impact from foreign currency fluctuations. The increase was partly offset by modestly lower revenues at the News Media segment. Adjusted Revenues (which excludes the foreign currency impact, acquisitions and divestitures as defined in Note 2) increased 4% compared to the prior year.

Net income from continuing operations for the quarter was $306 million, a 58% increase compared to $194 million in the prior year, primarily driven by higher Total Segment EBITDA and higher Other, net. These impacts were partially offset by higher income tax expense.

The Company reported second quarter Total Segment EBITDA of $478 million, a 20% increase compared to $400 million in the prior year due to strong contributions from all four operating segments. Adjusted Total Segment EBITDA (as defined in Note 2) increased 20%.

Net income from continuing operations per share attributable to News Corporation stockholders was $0.40 as compared to $0.28 in the prior year.

Adjusted EPS (as defined in Note 3) were $0.33 compared to $0.27 in the prior year.

Please click here for the full Earnings Release information.

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About News Corp

News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The company comprises businesses across a range of media, including: information services and news, digital real estate services, book publishing and subscription video services in Australia. Headquartered in New York, News Corp operates primarily in the United States, Australia, and the United Kingdom, and its content and other products and services are distributed and consumed worldwide. More information is available at: www.newscorp.com.

Contacts

News Corp Investor Relations

Michael Florin

212-416-3363

mflorin@newscorp.com

Anthony Rudolf

212-416-3040

arudolf@newscorp.com

News Corp Corporate Communications

Arthur Bochner

646-422-9671

abochner@newscorp.com

LINK:	https://newscorp.com/2025/02/05/news-corp-reports-second-quarter-resul...
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