Revenue and Profitability Increase
News Corp's revenue rose 2% to $2.14 billion, and total segment EBITDA increased by 5% to $340 million. Net income from continuing operations was $150 million, up from $149 million last year.
Dow Jones Performance
Dow Jones EBITDA rose 10% compared to a year earlier, following a 6% increase in revenue. Risk & Compliance revenues surged 16%, and Dow Jones Energy revenues were up 7%.
Growth in Digital Real Estate Services
Digital Real Estate Services saw a 9% revenue boost year-on-year, with a 33% margin, up from 30.6% last year. Realtor.com delivered a 9% revenue boost.
Strong Digital Subscription Growth
Digital-only subscriptions to The Wall Street Journal surged 11%, and digital circulation revenues increased from 72% to 75% of total circulation revenues.
Improved Profit Margins
Overall margins improved by 40 basis points to 15.9%, with 89% of profits from Dow Jones and Digital Real Estate Services.
Significant Share Buyback
The company accelerated its share buyback program, repurchasing at a rate of approximately $2.5 million per day, over 4x the previous pace.