News Corp reports Q2 adjusted EPS 33c, consensus 31c

Reports Q2 revenue $2.24B, consensus $2.18B. Commenting on the results, Chief Executive Robert Thomson said: “News Corp (NWS) had a fruitful quarter, qualitatively and quantitatively. Revenues on a continuing operations basis, which excludes Foxtel, grew 5 percent to $2.24 billion, net income from continuing operations surged 58 percent to $306 million and Total Segment EBITDA rose 20 percent to $478 million. The three pillars of growth-Digital Real Estate, Dow Jones and Book Publishing-continued to expand Segment EBITDA robustly. We also saw the positive impact of rigorous cost discipline and digital development in the News Media segment, and our overall margin rose meaningfully compared to the prior year.”