News Corp tops earnings expectations on strength at Dow Jones, real estate and book publishing units

Core Viewpoint - News Corp reported better-than-expected quarterly earnings, driven by growth in its digital real estate, Dow Jones, and book publishing divisions, resulting in a 58% increase in profits for the second quarter [1]. Financial Performance - The company reported a net income of $306 million, or 38 cents per share, compared to $156 million, or 27 cents per share, in the previous year, with adjusted earnings per share totaling 33 cents [2]. - Quarterly revenue increased to $2.24 billion from $2.14 billion a year earlier, surpassing analyst expectations of $2.18 billion [3]. - The real estate division saw a 17% revenue increase to $343 million, while the Dow Jones unit achieved record revenues of $600 million [3]. Division Highlights - The book publishing group, which includes HarperCollins, reported 8% revenue growth and 19% earnings growth [4]. - The CEO emphasized the importance of the company's partnership with OpenAI and criticized Generative AI, highlighting the value of trusted news content in the AI landscape [5][7]. Market Outlook - The CEO noted a tangible increase in business confidence in the US since the election, suggesting a positive economic outlook [5]. - The company anticipates that current trends will lead to reduced regulation and increased opportunities for Americans [6].