Key facts
- News Corp reported fourth-quarter revenue of $2.34 billion, exceeding analyst estimates of $2.23 billion.
- Adjusted earnings per share nearly doubled to $0.35, beating an estimate of $0.21.
- Dow Jones revenue increased by 7% in the quarter.
- Digital real estate services revenue saw a 19% increase.
- CEO Robert Thomson highlighted existing content licensing deals with OpenAI and Meta.
News Corp, the publisher of The Wall Street Journal, surpassed fourth-quarter revenue expectations with $2.34 billion, exceeding the $2.23 billion estimated by analysts. The media conglomerate's performance was bolstered by strong contributions from its digital real estate segment, book publishing division, and its Dow Jones subscription services.
Adjusted earnings per share saw a significant increase, nearly doubling to $0.35 from $0.19 in the prior year, comfortably beating the analyst estimate of $0.21. The Dow Jones business unit reported a 7% revenue growth for the quarter, while the digital real estate services segment experienced a substantial 19% rise in revenue.
News Corp's strategic pivot towards a digital-first content model is positioning the company to benefit from the artificial intelligence boom through licensing agreements. CEO Robert Thomson highlighted existing trusted content relationships with technology firms like OpenAI and Meta, and indicated that advanced discussions are underway with several other companies.