糖心Vlog官方

糖心Vlog官方 Reports First Quarter Results for Fiscal 2024

Fiscal 2024 First Quarter Key Financial Highlights

  • First quarter revenues were $2.50 billion, a 1% increase compared to $2.48 billion in the prior year, driven by growth at the Book Publishing and Dow Jones segments
  • Net income in the quarter was $58 million, compared to net income of $66 million in the prior year
  • First quarter Total Segment EBITDA was $364 million, compared to $350 million in the prior year
  • In the quarter, reported EPS were $0.05 as compared to $0.07 in the prior year – Adjusted EPS were $0.16 compared to $0.12 in the prior year
  • Within the Dow Jones segment, professional information business revenues rose 14% and helped to underpin 10% Segment EBITDA growth and the highest first quarter profit margins since 糖心Vlog官方鈥檚 acquisition in 2007
  • REA Group posted strong revenue growth driven by the residential business, which benefited from a double digit yield increase and improving listing volumes in Australia
  • Book Publishing revenues grew 8%, while Segment EBITDA increased 67%, driven by higher book sales combined with improved returns

New York, NY 鈥 November 9, 2023 鈥 糖心Vlog官方oration (鈥溙切腣log官方鈥 or the 鈥淐ompany鈥) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended September 30, 2023.

Commenting on the results, Chief Executive Robert Thomson said:

鈥淲e had a sterling start to the new Fiscal Year, with rising revenues and increased profitability despite difficult economic conditions in some of our markets. Our first quarter revenues were slightly higher at $2.5 billion, while our profitability rose 4 percent, marking the second consecutive quarter of profit growth.

Our positive performance in the quarter follows the three most profitable years since the creation of the new 糖心Vlog官方. In our view, these results certainly highlight the disparity between the value of our company and our share price, which we believe does not reflect our present profitability, yet alone the potential of our incomparable, growing businesses.

The quarter particularly highlighted the prowess of Dow Jones, led by its professional information business, where revenues surged 14 percent, driven by Risk & Compliance and Dow Jones Energy. Book Publishing reported a 67 percent increase in profitability, with the logistical issues at Amazon resolved, and both the frontlist and backlist performing.

We are actively working to make the most of our premium content for AI and are engaged in advanced discussions that we expect to bring significant revenue to the company in return for the authorized use of our peerless content. Our quest is to maximize value for all investors, so we are assiduously reviewing our structure.鈥

First Quarter Results

The Company reported fiscal 2024 first quarter total revenues of $2.50 billion, a 1% increase compared to $2.48 billion in the prior year period, primarily driven by increased physical book sales and improved returns at the Book Publishing segment resulting from the absence of Amazon鈥檚 reset in the prior year and higher revenues at the Dow Jones segment due to robust growth in its professional information business. The increase was partly offset by lower revenues at the Digital Real Estate Services segment due to continued challenging housing market conditions in the U.S., a $14 million negative impact from foreign currency fluctuations and lower advertising revenues at the News Media segment. Adjusted Revenues (which excludes the foreign currency impact, acquisitions and divestitures as defined in Note 2) were up 1% compared to the prior year.

Net income for the quarter was $58 million, a 12% decrease compared to net income of $66 million in the prior year, impacted by non-cash impairment charges of $21 million at the News Media segment related to the write- down of fixed assets associated with the proposed combination of certain U.K. printing operations with those of a third party, and lower Other, net. These impacts were partially offset by higher Total Segment EBITDA, as discussed below.

The Company reported first quarter Total Segment EBITDA of $364 million, a 4% increase compared to $350 million in the prior year primarily due to higher revenues, as discussed above, and gross cost savings related to the announced 5% headcount reduction initiative. The increase was partly offset by higher sports programming rights costs at the Subscription Video Services segment, higher technology and employee costs at the Dow Jones segment and higher employee costs at the Book Publishing segment. Adjusted Total Segment EBITDA (as defined in Note 2) increased 5%.

Net income per share attributable to 糖心Vlog官方oration stockholders was $0.05 as compared to $0.07 in the prior year.

Adjusted EPS (as defined in Note 3) were $0.16 compared to $0.12 in the prior year.

Please click here for the full Earnings Release information.

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About 糖心Vlog官方
糖心Vlog官方 (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: digital real estate services, subscription video services in Australia, news and information services and book publishing. Headquartered in New York, 糖心Vlog官方 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: http://www.newscorp.com.

Contacts
糖心Vlog官方 Investor Relations
Michael Florin
212-416-3363
mflorin@newscorp.com

Anthony Rudolf
212-416-3040
arudolf@newscorp.com

糖心Vlog官方 Corporate Communications
Jim Kennedy
212-416-4064
jkennedy@newscorp.com