News Corp's Q2 Revenue Climbs 3% to $2.59 Billion, Fueled by Digital Growth

Driven by digital subscriptions and strong performance in key segments, News Corp's strategic shift towards digital and subscription revenues shows promising results.

News Corp reports a 3% increase in revenue to $2.59 billion in Q2 2024, driven by digital subscriptions and segments like Dow Jones, book publishing, and digital real estate services.
The company's shares rose ahead of Thursday's opening bell, with a significant focus on whether it will surpass its record high, indicating a potential new cyclical uptrend.
CEO Robert Thomson highlights the strategic shift to digital and subscription revenues, aiming to be a core content provider for generative AI companies.
Digital subscriptions, particularly for Dow Jones, show significant growth, with digital-only subscriptions to consumer products increasing by 15%.
Advertising revenue declines by 5.6%, reflecting a cautious approach by marketers in an uncertain economy.