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.
- News Corp CEO Robert Thomson highlighted existing content licensing deals with OpenAI and Meta.
News Corp surpassed fourth-quarter revenue expectations, reporting $2.34 billion against analyst estimates of $2.23 billion. The media conglomerate's performance was significantly boosted by strong contributions from its digital real estate segment, book publishing division, and its Dow Jones subscription services.
Adjusted earnings per share nearly doubled 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 strategy includes licensing its content to technology firms like OpenAI and Meta to capitalize on the AI boom. CEO Robert Thomson highlighted existing trusted content relationships and indicated advanced discussions with other companies.
Separately, Fox Corp reported fourth-quarter revenue of $4.21 billion, exceeding analysts' average estimate of $3.64 billion, driven by increased advertising sales from the FIFA World Cup.