Media Company Sees Growth in Key Business Segments

  • News Corp reports quarterly profit driven by real-estate services, book publishing, and Dow Jones businesses
  • Net income of $50 million compared to a loss of $8 million in the previous year
  • Adjusted per-share earnings at 17 cents, beating analysts’ forecast of 16 cents
  • Revenue up 6% to $2.58 billion, surpassing expectations of $2.49 billion
  • Real-estate services segment sales increased by 21% to $448 million
  • Book publishing revenue grew 15% to $512 million due to higher physical and digital book sales
  • Dow Jones revenue up 3.7% to $566 million due to growth in professional information business
  • News Media segment revenue down 4.6% at $545 million due to lower advertising, circulation, and subscription sales
  • Evaluating options for Australian subscription-television business Foxtel Group amid third-party interest

News Corporation reported a fiscal fourth-quarter profit, driven by growth in its real estate services, book publishing, and Dow Jones businesses. The New York-based media company posted net income of $50 million or 9 cents per share, compared to a loss of $8 million or 1 cent per share in the previous year. Adjusted earnings were 17 cents, surpassing analysts’ expectations of 16 cents. Revenue increased by 6% to $2.58 billion, exceeding forecasts of $2.49 billion. The real estate services segment saw sales of $448 million, up 21%, while book publishing revenue reached $512 million due to higher physical and digital book sales. Dow Jones revenue grew 3.7% to $566 million on the back of continued growth in the professional information business. However, News Media segment revenue fell 4.6% to $545 million due to lower advertising, circulation, and subscription sales. The company is considering options for its Australian subscription-television business Foxtel Group amid third-party interest in a potential transaction.

Factuality Level: 10
Factuality Justification: The article provides accurate information about News Corp’s financial performance, including specific revenue figures for different segments and a mention of potential actions regarding Foxtel Group. It also includes comparisons to previous years and analyst forecasts.
Noise Level: 3
Noise Justification: The article provides relevant financial information about News Corp’s performance in its fiscal fourth quarter, including specific growth figures for various segments and a mention of potential actions regarding Foxtel Group. It is informative without being overly noisy or irrelevant.
Public Companies: News Corp (NWSA), Dow Jones ()
Private Companies: Foxtel Group
Key People:

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Financial Relevance: Yes
Financial Markets Impacted: News Corp’s financial performance impacts its stock price and can affect investor sentiment towards the company.
Financial Rating Justification: The article discusses News Corp’s financial results, including net income, adjusted earnings, revenue growth in various segments, and potential changes to their Australian subscription-television business. This information is relevant for investors and can impact the financial markets as it affects the company’s value and market sentiment.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article.
Move Size: No market move size mentioned.
Sector: Media
Direction: Up
Magnitude: Large
Affected Instruments: Stocks

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