News (US:NWS)2025-02-06 11:55Revenue Growth - Total revenues increased by $103 million, or 5%, for the three months ended December 31, 2024, compared to the same period in 2023[124] - Circulation and subscription revenues rose by $20 million, or 3%, to $745 million for the three months ended December 31, 2024[124] - Real estate revenues increased by $50 million, or 15%, to $377 million for the three months ended December 31, 2024[124] - Revenue for the three months ended December 31, 2024 increased by $11 million, or 1%, compared to the same period in fiscal 2024, driven by higher revenues in the Digital Real Estate Services, Book Publishing, and Dow Jones segments[125] - For the six months ended December 31, 2024, revenue increased by $35 million, or 1%, compared to the corresponding period in fiscal 2024, with similar segment contributions as noted above[126] - For the six months ended December 31, 2024, total revenues increased by $168 million, or 4%, to $4,334 million compared to $4,166 million in the same period of 2023[152] Net Income - Net income from continuing operations increased by $112 million, or 58%, to $306 million for the three months ended December 31, 2024[124] - The Company reported a net income attributable to News Corporation stockholders of $215 million, an increase of $59 million, or 38%, for the three months ended December 31, 2024[124] - Net income for the six months ended December 31, 2024 was $427 million, an increase of $186 million, or 77%, compared to the corresponding period in fiscal 2024[147] Operating Expenses - Operating expenses decreased by $7 million, or 1%, to $963 million for the three months ended December 31, 2024[124] - Operating expenses decreased by $7 million, or 1%, for the three months ended December 31, 2024, and by $33 million, or 2%, for the six months ended December 31, 2024, compared to the same periods in fiscal 2024[128][130] - Selling, general and administrative expenses increased by $32 million, or 4%, for the three months ended December 31, 2024, and by $72 million, or 5%, for the six months ended December 31, 2024, compared to the corresponding periods in fiscal 2024[131][133] Segment Performance - Segment EBITDA for the Dow Jones segment increased by $11 million, or 7%, to $174 million for the three months ended December 31, 2024, primarily due to increased revenues and lower costs[162] - Digital revenues represented 81% of total revenues at the Dow Jones segment for the three months ended December 31, 2024, up from 78% in the same period of 2023[152] - Digital Real Estate Services segment revenues increased by $54 million, or 13%, for the three months ended December 31, 2024[165] - REA Group revenues increased by $51 million, or 17%, to $343 million for the three months ended December 31, 2024[165] - Revenues at Move increased by $3 million, or 2%, to $130 million for the three months ended December 31, 2024[165] - Book Publishing segment revenues increased by $45 million, or 8%, for the three months ended December 31, 2024[167] - Segment EBITDA at the News Media segment increased by $17 million, or 30%, for the three months ended December 31, 2024[171] Cash Flow and Financing - Free cash flow for the six months ended December 31, 2024, was $121 million, compared to $97 million in the same period of fiscal 2024[194] - Net cash used in financing activities from continuing operations was $342 million for the six months ended December 31, 2024, compared to $175 million in the same period of fiscal 2023[188] - The company has authorized a repurchase program to buy back up to $1 billion of its outstanding Class A and Class B Common Stock, with approximately $382 million remaining as of December 31, 2024[182] - The company expects to meet its liquidity needs for at least the next twelve months, including repayment of indebtedness, through internally generated funds and available borrowing capacity[179] Legal and Regulatory Matters - The Company is involved in various legal proceedings, claims, and governmental inspections, which may adversely affect its financial condition[200] - An accrued liability for legal claims is established when a loss is probable and can be reasonably estimated, with adjustments made as necessary[201] Market Risk and Controls - There has been no material change in the Company's assessment of its sensitivity to market risk since the previous report[202] - The Company's disclosure controls and procedures were evaluated as effective by the Chief Executive Officer and Chief Financial Officer[203] - There has been no change in the Company's internal control over financial reporting that materially affects its reporting[204]