News Corp (ASX:NWS) reports higher revenue

Company News

by Lauren Evans

News Corp (ASX:NWS) reported it’s highest quarterly revenue since the company was formed in 2013, up 13 per cent while revenue for the half year rose 15 per cent. 

The media giant rose earnings before interest, taxes, appreciation and amortisation (EBITDA) by 18 per cent quarter-on-quater, while total EBITDA for the half year rose 30 per cent from the prior year period.

"Our businesses are thriving, particularly at the Digital Real Estate Services, Dow Jones and Book Publishing segments, and there was a pronounced surge in profitability at our News Media segment,” said chief executive Robert Thomson.

“Meanwhile, Foxtel’s streaming products flourished, with a 66 per cent increase in total customers, and Kayo and BINGE both exceeding one million.”

In the quarter, reported earnings per share were $0.40 compared to $0.39 in the prior year.

Shares in News Corporation (ASX:NWS) are trading 4.7 per cent higher at $33.04. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.