Significant Increase in Net Income
Net income from continuing operations rose 67% to $107 million in the third quarter compared to the prior year.
Strong Performance by Dow Jones
Dow Jones posted a 6% revenue growth with a 12% surge in profitability and a margin increase from 21.7% to 23%. Digital circulation revenue expanded 14%, marking the fastest growth rate in almost three years.
Successful Sale of Foxtel
The sale of Foxtel to DAZN removed $724 million of debt from the balance sheet and resulted in a 6% equity interest in the fast-growing sports streaming platform DAZN.
Digital Real Estate Services Growth
Digital Real Estate Services saw profitability surge 19% on a 5% increase in revenues, with a notable margin improvement from 26.8% to 30.5%. REA posted 6% revenue growth, or 11% on a constant currency basis.
Book Publishing Revenue Growth
Book Publishing segment revenues expanded by 2% to $514 million, with EBITDA rising 3% to $64 million.