Revenue and Profitability Growth
Revenues on a continuing operations basis increased 5% to $2.24 billion, while profitability rose 20% to $478 million. Net income from continuing operations surged 58% to $306 million compared to the same quarter in the previous year.
Foxtel Sale to DAZN
News Corp agreed to sell Foxtel to DAZN for AUD 3.4 billion, which is approximately seven times Foxtel's fiscal 2024 EBITDA. This transaction is expected to have a meaningful impact on News Corp's balance sheet.
Credit Rating Upgrade
Following the Foxtel sale agreement, both S&P Global and Moody's upgraded News Corp's credit rating to investment grade.
Digital Real Estate Segment Performance
Digital Real Estate revenue increased 13% to $473 million and segment EBITDA margin by 26% to $185 million. Realtor.com saw accelerated growth in rental, seller, and new homes revenues.
Dow Jones Growth
Dow Jones revenue grew 3% to $600 million, with segment EBITDA expanding 7% to $174 million. Digital circulation revenue grew at its fastest pace in two years.
Book Publishing Success
Book Publishing reported revenue growth of 8% to $595 million and segment EBITDA surged 19% to $101 million. Audio revenue increased by 13%.