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News (NWSA) - 2024 Q4 - Annual Results
2024-08-08 20:17
Exhibit 99.1 NEWS CORPORATION REPORTS FOURTH QUARTER AND FULL YEAR RESULTS FOR FISCAL 2024 FISCAL 2024 FOURTH QUARTER AND FULL YEAR KEY FINANCIAL HIGHLIGHTS NEW YORK, NY – August 8, 2024 – News Corporation ("News Corp" or the "Company") (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months and fiscal year ended June 30, 2024. Commenting on the results, Chief Executive Robert Thomson said: "Fiscal 2024 was an outstanding year for News Corp, as we not only delivered robust ...
Recent Price Trend in News Corp. (NWSA) is Your Friend, Here's Why
ZACKS· 2024-07-30 13:50
While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock aliv ...
Why Is News Corp. (NWSA) Up 11.8% Since Last Earnings Report?
ZACKS· 2024-06-07 16:36
It has been about a month since the last earnings report for News Corp. (NWSA) . Shares have added about 11.8% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is News Corp. due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. News Corporation Q3 Earnings Beat, Revenues Fall ...
What News Corp's Deal With OpenAI Says About Future of Publishing, AI
investopedia.com· 2024-05-23 16:25
Key TakeawaysOpenAI and News Corp announced a multi-year agreement Wednesday, giving the maker of ChatGPT access to content from brands like The Wall Street Journal and Barron's.Microsoft-backed OpenAI has signed deals with other publishers as well to license their content for training purposes, while also including content from the outlets in ChatGPT's responses.The moves come as Microsoft, OpenAI, and Google have faced scrutiny over whether they used copyrighted content without consent to train AI models. ...
News (NWSA) - 2024 Q3 - Quarterly Report
2024-05-09 10:59
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35769 ____________________ ...
News (NWSA) - 2024 Q3 - Earnings Call Transcript
2024-05-09 00:40
Financial Data and Key Metrics Changes - Total revenues for Q3 2024 were over $2.4 billion, down 1% compared to the prior year, while adjusted revenues were flat [25] - Total segment EBITDA was $322 million, up 1% compared to the prior year, marking the second most profitable Q3 since the company's separation in 2013 [25] - Earnings per share were reported at $0.05 compared to $0.09 in the prior year, while adjusted earnings per share were $0.11 compared to $0.09 in the prior year [25] Business Line Data and Key Metrics Changes - Digital Real Estate Services segment revenues were $388 million, up 7% year-over-year, with segment EBITDA at $104 million, up 2% [26] - Dow Jones reported revenues of $544 million, up 3% year-over-year, with digital revenue accounting for 81% of total revenues [31] - Subscription Video Services revenues were $455 million, down 5% compared to the prior year, with total paid streaming subscribers nearly 3.1 million, increasing 3% year-over-year [30] Market Data and Key Metrics Changes - In the U.S. housing market, revenue declines moderated at Move, with lead volume turning positive for the first time in two years [15] - In Australia, REA's revenues surged 15% year-over-year, driven by a 6% increase in listings [14] - Digital subscriptions at Dow Jones increased 17% year-over-year, with 322,000 added in Q3 [12] Company Strategy and Development Direction - The company is focused on transforming its revenue mix towards recurring and digital revenues while navigating inflationary pressures [25] - A partnership with Google was extended to promote quality journalism in the age of generative AI [9] - The company is reviewing its structure to provide maximum flexibility and has made underlying changes to enhance operational efficiency [10] Management's Comments on Operating Environment and Future Outlook - Management noted that profitability rose slightly in Q3 despite macroeconomic challenges, including a strong dollar and high mortgage rates affecting the U.S. housing market [7] - The company anticipates continued strong results for the full year, with digital revenue expected to account for over half of total revenues [9] - Management expressed confidence in the long-term potential of realtor.com and the digital real estate market despite current challenges [16] Other Important Information - Free cash flow for the first three quarters was $491 million, a 53% increase from $320 million in the same period last year [9] - The company highlighted the importance of quality journalism amidst the rise of AI-generated content [23] - A landmark rental agreement between realtor.com and Zillow was noted, enhancing the rental experience for consumers [17] Q&A Session Summary Question: Move investment details - Management confirmed ongoing investments in marketing and product development, focusing on enhancing user experience and value for realtors [43][44][45] Question: Demand trends in Book Publishing - Management noted a slight pause in purchasing but observed a return to strong performance in April, with audio book streaming revenue rising [47][48][49] Question: Google transaction details - Management clarified that the renewal deal with Google does not involve payments for AI content usage, and financial details remain undisclosed [51][52][53] Question: Company transformation timeline - Management indicated that planning is well advanced but did not provide a specific timeline for completion [54][55] Question: BINGE subscriber decline - Management attributed the decline to content flow issues related to the writers' strike, impacting subscriber numbers [57][58] Question: Cost reduction strategies - Management confirmed ongoing cost efficiency initiatives across the business, with a focus on balancing reinvestment in key areas [60][61][63] Question: Company structure changes - Management stated that regulatory changes related to the company's structure are ongoing but did not provide further details [66][67]
News Corp. (NWSA) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Zacks Investment Research· 2024-05-08 23:01
For the quarter ended March 2024, News Corp. (NWSA) reported revenue of $2.42 billion, down 1% over the same period last year. EPS came in at $0.11, compared to $0.09 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.48 billion, representing a surprise of -2.30%. The company delivered an EPS surprise of +10.00%, with the consensus EPS estimate being $0.10.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street exp ...
News Corp. (NWSA) Q3 Earnings Surpass Estimates
Zacks Investment Research· 2024-05-08 22:26
分组1 - News Corp. reported quarterly earnings of $0.11 per share, exceeding the Zacks Consensus Estimate of $0.10 per share, and up from $0.09 per share a year ago, representing a 10% earnings surprise [1] - The company posted revenues of $2.42 billion for the quarter ended March 2024, which was 2.30% below the Zacks Consensus Estimate and down from $2.45 billion year-over-year [1] - Over the last four quarters, News Corp. has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [1] 分组2 - The stock has underperformed the market, losing about 0.5% since the beginning of the year compared to the S&P 500's gain of 8.8% [2] - The current consensus EPS estimate for the upcoming quarter is $0.18 on revenues of $2.55 billion, and for the current fiscal year, it is $0.71 on revenues of $10.11 billion [4] - The Zacks Industry Rank for Film and Television Production and Distribution is in the bottom 24% of over 250 Zacks industries, indicating potential underperformance [5] 分组3 - Warner Music Group Corp. is expected to report quarterly earnings of $0.11 per share, reflecting an 83.3% year-over-year change, with revenues anticipated to be $1.49 billion, up 6.2% from the previous year [6]
News (NWSA) - 2024 Q3 - Quarterly Results
2024-05-08 20:17
Exhibit 99.1 NEWS CORPORATION REPORTS THIRD QUARTER RESULTS FOR FISCAL 2024 FISCAL 2024 THIRD QUARTER KEY FINANCIAL HIGHLIGHTS NEW YORK, NY – May 8, 2024 – News Corporation ("News Corp" or the "Company") (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended March 31, 2024. Commenting on the results, Chief Executive Robert Thomson said: "News Corp has again made substantial progress on our strategic imperative to transform the company and increase value for all shar ...
With The Stock Flat This Year, Will Q3 Results Drive News Corp's Stock Higher?
Forbes· 2024-05-08 12:00
MANHATTAN, NEW YORK, UNITED STATES - 2024/04/09: Marquee at the main entrance to the FOX News ... [+] Headquarters at NewsCorp Building in Manhattan. (Photo by Erik McGregor/LightRocket via Getty Images)LightRocket via Getty Images[Note: News Corp Fiscal Year Ends in June]News Corp stock (NASDAQ NASDAQ : NWSA), a global, diversified media and information services company, is scheduled to report its third-quarter results on Wednesday, May 8. We expect NWSA’s stock to see little to no movement with revenues a ...