News Corporation (NWSA) reported fourth-quarter fiscal 2024 earnings of 17 cents per share, which beat the Zacks Consensus Estimate by 13.33% and increased 21.4% year over year.Revenues of $2.58 billion increased 6% year over year and beat the consensus mark by 2.06%. The improvement was driven by growth in the Digital Real Estate Services, Book Publishing and Dow Jones segments.Quarterly DetailsAdjusted revenues (which exclude the impact of foreign currency, acquisitions and divestitures) increased 6% year ...

Core Viewpoint - News Corp. reported a revenue of $2.58 billion for the quarter ended June 2024, marking a year-over-year increase of 5.9% and an EPS of $0.17, up from $0.14 a year ago, exceeding both revenue and EPS consensus estimates [1]. Revenue Performance - The reported revenue of $2.58 billion surpassed the Zacks Consensus Estimate of $2.53 billion, resulting in a surprise of +2.06% [1]. - The EPS of $0.17 also exceeded the consensus estimate of $0.15, delivering an EPS surprise of +13.33% [1]. Key Metrics Analysis - Revenue from Dow Jones - Circulation and subscription was $102 million, above the average estimate of $99.92 million [5]. - Revenue from Dow Jones - Other reached $15 million, compared to the average estimate of $13.89 million [5]. - Book Publishing - Consumer revenue was $566 million, slightly above the estimated $565.22 million, reflecting a +3.7% year-over-year change [5]. - Subscription Video Services - Advertising revenue was $512 million, exceeding the average estimate of $506.78 million, with a year-over-year increase of +14.8% [6]. - News Media - Circulation and subscription revenue was $263 million, below the average estimate of $273.57 million [8]. - News Media - Advertising revenue was $209 million, slightly above the average estimate of $207.16 million [8]. Stock Performance - Over the past month, shares of News Corp. have returned -6.3%, compared to the Zacks S&P 500 composite's -6.5% change [9]. - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [9].

News Corp. (NWSA) came out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.33%. A quarter ago, it was expected that this publishing company whose flagship is The Wall Street Journal would post earnings of $0.10 per share when it actually produced earnings of $0.11, delivering a surprise of ...

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 ...

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 ...

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 ...

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. ...

[Part I. Financial Information](index=3&type=section&id=Part%20I.%20Financial%20Information) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company reported Q3 fiscal 2024 revenues of $2.42 billion and nine-month operating cash flow of $844 million [Consolidated Statements of Operations](index=3&type=section&id=Consolidated%20Statements%20of%20Operations) | Financial Metric | Q3 2024 (ended Mar 31) | Q3 2023 (ended Mar 31) | YoY Change | Nine Months 2024 | Nine Months 2023 | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | $2,423 M | $2,447 M | -1% | $7,508 M | $7,446 M | +1% | | **Net Income** | $42 M | $59 M | -29% | $283 M | $219 M | +29% | | **Net Income to Stockholders** | $30 M | $50 M | -40% | $216 M | $157 M | +38% | | **Diluted EPS** | $0.05 | $0.09 | -44% | $0.38 | $0.27 | +41% | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) | Balance Sheet Item | March 31, 2024 (unaudited) | June 30, 2023 (audited) | | :--- | :--- | :--- | | **Cash and cash equivalents** | $1,943 M | $1,833 M | | **Total current assets** | $4,128 M | $4,053 M | | **Total assets** | $16,544 M | $16,921 M | | **Total current liabilities** | $3,042 M | $3,165 M | | **Total borrowings** | $2,900 M | $2,967 M | | **Total equity** | $8,908 M | $8,945 M | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) | Cash Flow Item (Nine Months Ended Mar 31) | 2024 | 2023 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $844 M | $670 M | | **Net cash used in investing activities** | ($404 M) | ($440 M) | | **Net cash used in financing activities** | ($317 M) | ($382 M) | | **Net change in cash and cash equivalents** | $123 M | ($152 M) | [Notes to the Unaudited Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Unaudited%20Consolidated%20Financial%20Statements) - For the nine months ended March 31, 2024, the company recorded **restructuring charges of $62 million** related to employee termination benefits[39](index=39&type=chunk) - During the nine months ended March 31, 2024, both the Foxtel Group and REA Group completed **significant debt refinancing activities**[52](index=52&type=chunk)[55](index=55&type=chunk) - As of March 31, 2024, the company had approximately **$495 million remaining under its $1 billion stock repurchase program**[62](index=62&type=chunk)[63](index=63&type=chunk) - The company has accrued approximately **$70 million for liabilities related to the U.K. Newspaper Matters**, which are largely indemnified by FOX Corporation[91](index=91&type=chunk)[92](index=92&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=29&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a 1% Q3 revenue decline, flat Segment EBITDA, and strong operating cash flow of $844 million [Overview of the Company's Businesses](index=30&type=section&id=Overview%20of%20the%20Company's%20Businesses) - The company's **5% headcount reduction initiative** is expected to generate at least **$160 million in annualized gross cost savings**[126](index=126&type=chunk) - News UK and DMG Media received regulatory approval for a proposed joint venture to combine certain printing operations[127](index=127&type=chunk) [Results of Operations](index=32&type=section&id=Results%20of%20Operations) | Performance Metric | Q3 2024 | Q3 2023 | YoY Change | Nine Months 2024 | Nine Months 2023 | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | $2,423 M | $2,447 M | -1% | $7,508 M | $7,446 M | +1% | | **Total Segment EBITDA** | $322 M | $320 M | +1% | $1,159 M | $1,079 M | +7% | - The Q3 revenue decrease was driven by lower advertising and currency headwinds, partially offset by growth at Digital Real Estate Services and Dow Jones[130](index=130&type=chunk) - Equity losses of affiliates decreased by **$38 million for the nine-month period** due to the absence of prior-year losses from an investment[143](index=143&type=chunk) [Segment Analysis](index=35&type=section&id=Segment%20Analysis) | Segment | Q3 2024 Revenue | YoY Change | Q3 2024 Segment EBITDA | YoY Change | | :--- | :--- | :--- | :--- | :--- | | **Digital Real Estate Services** | $388 M | +7% | $104 M | +2% | | **Subscription Video Services** | $455 M | -5% | $66 M | -3% | | **Dow Jones** | $544 M | +3% | $118 M | +8% | | **Book Publishing** | $506 M | -2% | $62 M | +2% | | **News Media** | $530 M | -6% | $26 M | -24% | - **Digital Real Estate:** Growth was driven by a **15% revenue increase at REA Group**, which offset a 6% decline at Move[158](index=158&type=chunk) - **Dow Jones:** Growth was led by a **10% increase in professional information business revenues**, with total subscriptions for The Wall Street Journal growing 8%[177](index=177&type=chunk)[179](index=179&type=chunk)[181](index=181&type=chunk) - **News Media:** Performance was negatively impacted by a **13% decline in advertising revenues**, attributed to lower print and digital advertising[194](index=194&type=chunk) [Liquidity and Capital Resources](index=44&type=section&id=Liquidity%20and%20Capital%20Resources) - The company's principal source of liquidity is internally generated funds and cash on hand, which stood at **$1.9 billion** as of March 31, 2024[202](index=202&type=chunk) | Cash Flow Metric (Nine Months Ended Mar 31) | 2024 | 2023 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $844 M | $670 M | | **Free cash flow** | $491 M | $320 M | | **Free cash flow available to News Corporation** | $378 M | $258 M | - During the nine-month period, the Foxtel Group refinanced its debt with a new **A$1.2 billion syndicated credit facility**[221](index=221&type=chunk)[226](index=226&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=50&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risk sensitivity assessment remains unchanged from the last annual report - There has been **no material change** in the Company's assessment of its sensitivity to market risk since its last annual report[236](index=236&type=chunk) [Controls and Procedures](index=50&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes to internal controls - The CEO and CFO concluded that as of the end of the quarter, the company's **disclosure controls and procedures were effective**[237](index=237&type=chunk) - **No changes in internal control over financial reporting** occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[238](index=238&type=chunk) [Part II. Other Information](index=51&type=section&id=Part%20II.%20Other%20Information) [Legal Proceedings](index=51&type=section&id=Item%201.%20Legal%20Proceedings) This section details ongoing legal matters, including antitrust complaints and U.K. Newspaper claims - For details on legal proceedings, the report refers to Note 9 in the financial statements, which covers matters such as the HarperCollins antitrust complaints and the U.K. Newspaper Matters[241](index=241&type=chunk)[89](index=89&type=chunk)[90](index=90&type=chunk) [Risk Factors](index=51&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors have occurred since the last annual report - There have been **no material changes** to the risk factors described in the 2023 Form 10-K[242](index=242&type=chunk) [Issuer Purchases of Equity Securities](index=51&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased $27 million of its shares in Q3, with $495 million remaining under its program | Period (2024) | Class A Shares Purchased (M) | Class B Shares Purchased (M) | Total Shares Purchased (M) | Approx. Value (M) | | :--- | :--- | :--- | :--- | :--- | | Jan 1 - Jan 28 | 0.1 | 0.1 | 0.2 | $4.9 | | Jan 29 - Mar 3 | 0.3 | 0.1 | 0.4 | $10.4 | | Mar 4 - Mar 31 | 0.3 | 0.1 | 0.4 | $10.5 | | **Total Q3** | **0.7** | **0.3** | **1.0** | **$25.8** | - As of March 31, 2024, the remaining authorized amount under the company's stock repurchase program was approximately **$495 million**[205](index=205&type=chunk)[244](index=244&type=chunk) [Other Information](index=51&type=section&id=Item%205.%20Other%20Information) The company amended the employment agreement for its General Counsel, extending the term to 2028 - The company entered into an **amended employment agreement with General Counsel David B. Pitofsky**, effective July 1, 2024, extending his term to June 30, 2028[248](index=248&type=chunk) [Exhibits](index=53&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including executive agreements, certifications, and XBRL data - Exhibits filed with the report include the amended employment agreement for David Pitofsky, CEO/CFO certifications, and financial statements in Inline XBRL format[255](index=255&type=chunk)

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]

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 ...