News CorporationNASDAQ: NWSA) Involved Up about 4% In after-hours trading, the company’s fiscal fourth-quarter results showed that the company beat Wall Street expectations by 1 cent and increased by 3 cents from the same quarter. Year-ago. Revenue for the quarter rose 6% to $2.58 billion, beating estimates by $80 million, and adjusted EBITDA for the segment rose 13% to $385 million.
News Corp. (NWSA) swung to an unadjusted profit of $71 million, compared to a loss of $32 million in the same quarter a year earlier.
“Fiscal 2024 was a great year for News Corp., as we not only delivered strong earnings growth and created significant shareholder value, but also took an important step to prepare the company to thrive in the age of artificial intelligence,” said CEO Robert Thomson, referring to the company’s recent agreement with OpenAI to share content from The Wall Street Journal, Barron’s, MarketWatch, the New York Post, and others under the News Corp. (NWSA) umbrella.
By sector, Dow Jones consumer subscriptions rose 11% on average, while digital subscriptions rose 16%. By publication, Wall Street Journal subscriptions rose 7% year over year, while digital subscriptions rose 11%. For Barron’s, total subscriptions rose 21%, while digital subscriptions rose 27%.
Book publishing revenues rose 15%, REA Group revenues rose 37%, and the subscription video segment ended the fiscal year with 3.2 million paid subscribers.
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