{"id":109730,"date":"2024-02-07T16:15:40","date_gmt":"2024-02-07T21:15:40","guid":{"rendered":"https:\/\/newscorp.com\/?p=109730"},"modified":"2024-02-07T16:15:40","modified_gmt":"2024-02-07T21:15:40","slug":"news-corp-reports-second-quarter-results-for-fiscal-2024","status":"publish","type":"post","link":"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/","title":{"rendered":"海角社区app Reports Second Quarter Results for Fiscal 2024"},"content":{"rendered":"\n\n\n<p><strong>海角社区app Reports Second Quarter Results for Fiscal 2024<\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Fiscal 2024 Second Quarter Key Financial Highlights<\/span><\/strong><\/p>\n\n\n\n<ul>\n<li>Second quarter revenues were $2.59\u00a0billion, a 3% increase compared to $2.52\u00a0billion in the prior year, driven by growth at the Digital Real Estate Services, Dow Jones and Book Publishing segments<\/li>\n\n\n\n<li>Net income in the quarter was $183\u00a0million, compared to net income of $94\u00a0million in the prior year<\/li>\n\n\n\n<li>Second quarter Total Segment EBITDA was $473 million, compared to $409 million in the prior year<\/li>\n\n\n\n<li>In the quarter, reported EPS were $0.27 as compared to $0.12 in the prior year &#8211; Adjusted EPS were $0.26 compared to $0.14 in the prior year<\/li>\n\n\n\n<li>Dow Jones achieved its highest quarterly revenues and Segment EBITDA since its acquisition in 2007, driven by strength in professional information business revenues, which rose 13% compared to the prior year<\/li>\n\n\n\n<li>REA Group posted record quarterly revenues of $292 million, a 22% increase compared to the prior year, primarily driven by robust Australian residential performance<\/li>\n\n\n\n<li>Book Publishing revenues grew 4%, while Segment EBITDA increased 67%, driven by higher digital sales, which benefited from strong audiobooks performance, and improved return rates<\/li>\n<\/ul>\n\n\n\n<p><strong>NEW YORK, NY \u2013 February&nbsp;7, 2024 \u2013<\/strong> 海角社区apporation (\u201c海角社区app\u201d or the \u201cCompany\u201d) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December&nbsp;31, 2023.<\/p>\n\n\n\n<p>Commenting on the results, Chief Executive Robert Thomson said:<\/p>\n\n\n\n<p><em>\u201c海角社区app again saw growth in both revenue and profitability this quarter as we continue to realize the collective benefit of our strategic shift to digital and subscription revenues, and away from sometimes volatile advertising revenues.<\/em><\/p>\n\n\n\n<p><em>Our net income rose to $183 million from $94 million in the same quarter last year and our reported EPS was 27 cents, compared to 12 cents for the same period last year, driven by a 16% surge in Total Segment EBITDA. <\/em><em>We had particularly robust results across the three core pillars of our business \u2013 Dow Jones, Book Publishing and Digital Real Estate Services \u2013 and believe there are strong prospects for further growth as difficult macro conditions ease in some of our markets.<\/em><\/p>\n\n\n\n<p><em>We expect to be a core content provider for Generative AI companies, who need the highest quality, timely content to ensure the relevance and accuracy of their products. We patently prefer negotiation to litigation, courtship to courtrooms. But let\u2019s be clear, in my view those who repurpose without approval are stealing and are undermining the very act of creativity \u2013 counterfeiting is not creating, and the AI world is replete with content counterfeiters.<\/em><\/p>\n\n\n\n<p><em>I also want to draw attention to the plight of our colleague Evan Gershkovich, who continues to be unjustly detained in a Moscow prison, solely for being a highly professional journalist. We hope that justice will prevail and thank all who publicly, and not so publicly, have been working to secure his emancipation.\u201d<\/em><em><\/em><\/p>\n\n\n\n<p><a><\/a><strong>SECOND<\/strong><strong> QUARTER RESULTS<\/strong><\/p>\n\n\n\n<p>The Company reported fiscal 2024 second quarter total revenues of $2.59 billion, a 3% increase compared to $2.52 billion in the prior year period, primarily driven by higher Australian residential revenues at REA Group, continued strong growth in the professional information business at the Dow Jones segment, increased digital sales and improved returns due to better sell through of inventory at the Book Publishing segment and a $13 million, or 1%, positive impact from foreign currency fluctuations. The increase was partly offset by lower revenues at Move due to continued challenging housing market conditions in the U.S. 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 2% compared to the prior year.<\/p>\n\n\n\n<p>Net income for the quarter was $183 million, a 95% increase compared to net income of $94 million in the prior year, driven by higher Total Segment EBITDA, as discussed below, improved equity losses of affiliates and higher Other, net. These impacts were partially offset by higher income tax expense.<\/p>\n\n\n\n<p>The Company reported second quarter Total Segment EBITDA of $473 million, a 16% increase compared to $409 million in the prior year primarily due to higher revenues, as discussed above, lower costs at the Book Publishing segment 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. Adjusted Total Segment EBITDA (as defined in Note 2) increased 14%.<\/p>\n\n\n\n<p>Net income per share attributable to 海角社区apporation stockholders was $0.27 as compared to $0.12 in the prior year.<\/p>\n\n\n\n<p>Adjusted EPS (as defined in Note 3) were $0.26 compared to $0.14 in the prior year.<\/p>\n\n\n\n<p>Please click <a href=\"https:\/\/newscorp.com\/wp-content\/uploads\/2024\/02\/Q2-FY2024-Earnings-Release_FINAL_7-February-2024.pdf\">here<\/a> for the full Earnings Release information.<\/p>\n\n\n\n<p class=\"has-text-align-center\">###<\/p>\n\n\n\n<p><strong>About 海角社区app<br><\/strong>海角社区app (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, 海角社区app 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.<\/p>\n\n\n\n<p><strong>Contacts<\/strong><br>海角社区app Investor Relations<br>Michael Florin<br>212-416-3363<br><a href=\"mailto:mflorin@newscorp.com\">mflorin@newscorp.com<\/a><\/p>\n\n\n\n<p>Anthony Rudolf<br>212-416-3040<br><a href=\"mailto:arudolf@newscorp.com\">arudolf@newscorp.com<\/a><\/p>\n\n\n\n<p>海角社区app Corporate Communications<br>Jim Kennedy<br>212-416-4064<br><a href=\"mailto:jkennedy@newscorp.com\">jkennedy@newscorp.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>海角社区app Reports Second Quarter Results for Fiscal 2024 Fiscal 2024 Second Quarter Key Financial Highlights NEW YORK, NY \u2013 February&nbsp;7, 2024 \u2013 海角社区apporation (\u201c海角社区app\u201d or the \u201cCompany\u201d) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December&nbsp;31, 2023. Commenting on the results, Chief Executive Robert Thomson [&hellip;]<\/p>\n","protected":false},"author":179221376,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"dek":"","page_header_leaders":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>海角社区app Reports Second Quarter Results for Fiscal 2024 - 海角社区app<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"海角社区app Reports Second Quarter Results for Fiscal 2024 - 海角社区app\" \/>\n<meta property=\"og:description\" content=\"海角社区app Reports Second Quarter Results for Fiscal 2024 Fiscal 2024 Second Quarter Key Financial Highlights NEW YORK, NY \u2013 February&nbsp;7, 2024 \u2013 海角社区apporation (\u201c海角社区app\u201d or the \u201cCompany\u201d) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December&nbsp;31, 2023. Commenting on the results, Chief Executive Robert Thomson [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"海角社区app\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-07T21:15:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/newscorp.com\/wp-content\/uploads\/2021\/04\/social-share-nc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"John Rech\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/\"},\"author\":{\"name\":\"John Rech\",\"@id\":\"https:\/\/newscorp.com\/#\/schema\/person\/c8596e220e8b19bdf0f776360d5e98ff\"},\"headline\":\"海角社区app Reports Second Quarter Results for Fiscal 2024\",\"datePublished\":\"2024-02-07T21:15:40+00:00\",\"dateModified\":\"2024-02-07T21:15:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/\"},\"wordCount\":867,\"publisher\":{\"@id\":\"https:\/\/newscorp.com\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/\",\"url\":\"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/\",\"name\":\"海角社区app Reports Second Quarter Results for Fiscal 2024 - 海角社区app\",\"isPartOf\":{\"@id\":\"https:\/\/newscorp.com\/#website\"},\"datePublished\":\"2024-02-07T21:15:40+00:00\",\"dateModified\":\"2024-02-07T21:15:40+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/newscorp.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"海角社区app Reports Second Quarter Results for Fiscal 2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/newscorp.com\/#website\",\"url\":\"https:\/\/newscorp.com\/\",\"name\":\"海角社区app\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/newscorp.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/newscorp.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/newscorp.com\/#organization\",\"name\":\"海角社区app\",\"url\":\"https:\/\/newscorp.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/newscorp.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/newscorp.com\/wp-content\/uploads\/2021\/06\/news_corp_logo-edited.png\",\"contentUrl\":\"https:\/\/newscorp.com\/wp-content\/uploads\/2021\/06\/news_corp_logo-edited.png\",\"width\":932,\"height\":227,\"caption\":\"海角社区app\"},\"image\":{\"@id\":\"https:\/\/newscorp.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/newscorp.com\/#\/schema\/person\/c8596e220e8b19bdf0f776360d5e98ff\",\"name\":\"John Rech\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"海角社区app Reports Second Quarter Results for Fiscal 2024 - 海角社区app","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/newscorp.com\/2024\/02\/07\/news-corp-reports-second-quarter-results-for-fiscal-2024\/","og_locale":"en_US","og_type":"article","og_title":"海角社区app Reports Second Quarter Results for Fiscal 2024 - 海角社区app","og_description":"海角社区app Reports Second Quarter Results for Fiscal 2024 Fiscal 2024 Second Quarter Key Financial Highlights NEW YORK, NY \u2013 February&nbsp;7, 2024 \u2013 海角社区apporation (\u201c海角社区app\u201d or the \u201cCompany\u201d) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December&nbsp;31, 2023. 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