Overview
- News Corp said first-quarter revenue was $2.28 billion and net income rose 43% to $215 million, with adjusted earnings of $0.28 per share that beat expectations.
- Dow Jones revenue grew 8% to $630 million as digital-only subscriptions to The Wall Street Journal rose 11% to about 4.7 million and subscriptions across Dow Jones climbed roughly 10% to 6.5 million.
- Digital real estate services delivered $529 million in revenue, up 10%, and HarperCollins revenue increased 9% to $582 million, with the quarter also boosted by a one-time gain from the sale of REA India assets.
- News Corp’s traditional News Media unit slipped 1% to $540 million, reflecting ongoing weakness in print advertising and legacy newspaper operations.
- CEO Robert Thomson said the company will press tech platforms for payment for its content, citing deals with OpenAI and Meta and warning that News Corp will both seek partnerships and pursue legal action if needed.