Stocks of the Hour: REA, Link Administration & News Corp

Company News

by Lauren Evans

Online real estate advertiser REA Group (ASX:REA) has recorded revenue of $264 million for the September quarter, up 22 per cent year-on-year. Free cash flow rose 29 per cent, while national listings increased 11 per cent for the quarter. Shares in REA Group (ASX:REA) are trading 5 per cent higher at $175.86.

Superannuation admin company Link Administration (ASX: LNK) has received a non-binding takeover proposal from the Carlyle Group. The investment fund has offered to acquire all shares in Link for $3.00 per share. Shares in Link Administration (ASX:LNK) are trading 9.8 per cent higher at $4.75

News Corporation (ASX:NWS) has reported revenue of $2.5 billion for the September quarter, up 18 per cent year-on-year. Profit as a whole rose by 53 per cent, while the Dow Jones media segment recorded its highest quarter revenue and profitability since its acquisition. Shares in News Corporation (ASX:NWS) are trading 7.8 per cent higher at $34.16.

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