News Corp Reports First Quarter Results for Fiscal 2022
04/11/2021
Fiscal 2022 First Quarter Key Financial Highlights
Revenues were $2.50 billion, an 18% increase compared to $2.12 billion in the prior year, driven by growth across key segments
Net income of $267 million compared to $47 million in the prior year
Total Segment EBITDA was $410 million compared to $268 million in the prior year
Reported EPS were $0.33 compared to $0.06 in the prior year - Adjusted EPS were $0.23 compared to $0.08 in the prior year
Digital Real Estate Services segment revenues grew 47%, driven primarily by strong yield and demand at both REA Group and Move, operator of realtor.com
Dow Jones saw its highest first quarter revenue and profitability since its acquisition
Book Publishing segment revenues grew 19%, benefiting from the HMH acquisition and continued strong consumption patterns
Subscription Video Services Segment EBITDA grew 46% as Foxtel's streaming products reached approximately 2.1 million paid subscribers, up 69% compared to the prior year
News Media segment revenues grew 18%, benefiting from the rebound in the advertising market, strong digital subscriber gains and new content licensing revenues from recent news payment agreements with major tech platforms
Announced a $1 billion stock repurchase program and the termination of the Stockholder Rights Agreement
New York, NY - November 4, 2021 - News Corporation ( News Corp or the Company ) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended September 30, 2021.
Commenting on the results, Chief Executive Robert Thomson said:
I am pleased to report that the first quarter of Fiscal 2022 was the most profitable of its kind since the re-launch of News Corp in 2013, building on the trends evident in the last financial year. Revenues for the quarter were $2.5 billion, an increase of 18 percent, while our profitability rose by a hefty 53 percent.
Dow Jones achieved stronger profitability than any first quarter in its 140-year history. We look forward to completing the acquisition of OPIS, which will enhance our fast-growing professional information business. Recent events have highlighted the importance of intelligence about energy and carbon markets, and we fully expect to emerge as a world leader in that area.
Digital Real Estate Services was again a source of express growth, with both REA Group and Move benefiting from robust yield growth, increased audience and expansion into adjacencies. HarperCollins is thriving, driven by strong sales and the successful integration of HMH. News Media was an especially notable contributor to profitability this quarter, thanks to significant digital advertising growth and our groundbreaking agreements with Google and Facebook.
We are primed to capitalize on the patent success of the Foxtel streaming strategy, which was highlighted during the Foxtel Strategy Day, and are reviewing potential permutations to maximize shareholder value and growth. It's worth noting that Subscription Video Services Segment EBITDA rose an impressive 46 percent in the first quarter.
Following Board approval of a $1 billion stock repurchase program, we expect to begin executing on that program after our quiet period ends next week. These strong results underpin our confidence, our resilience, our ability to generate cash for our investors, and our potential for continued growth.
First Quarter Results
The Company reported fiscal 2022 first quarter total revenues of $2.50 billion, 18% higher compared to $2.12 billion in the prior year period, driven by growth across key segments. The growth reflects strength in the underlying businesses, recent acquisitions and a $57 million, or 3%, positive impact from foreign currency fluctuations. Adjusted Revenues (which exclude the foreign currency impact, acquisitions and divestitures as defined in Note 2) increased 10%.
Net income for the quarter was $267 million compared to $47 million in the prior year, reflecting higher Total Segment EBITDA, as discussed below, and higher Other, net, partially offset by higher tax expense.
The Company reported first quarter Total Segment EBITDA of $410 million, a 53% increase compared to $268 million in the prior year. The increase was primarily due to higher revenues, as discussed above, lower costs at the Subscription Video Services segment, and an $11 million, or 4%, positive impact from foreign currency fluctuations. The growth was partially offset by higher costs in the Digital Real Estate Services, Book Publishing and Dow Jones segments, partly due to the recent acquisitions. Adjusted Total Segment EBITDA (as defined in Note 2) increased 47%.
Net income per share attributable to News Corporation stockholders was $0.33 as compared to $0.06 in the prior year.
Adjusted EPS (as defined in Note 3) were $0.23 compared to $0.08 in the prior year.
Please click here for the full Earnings Release information.
###
About News Corp
News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The company comprises businesses across a range of media, including: digital real estate services, subscription video services in Australia, news and information services and book publishing. Headquartered in New York, News Corp operates primarily in the United States, Australia, and the United Kingdom, and its content and other products and services are distributed and consumed worldwide. More information is available at: http://www.newscorp.com.
Contacts
News Corp Investor Relations
Michael Florin
212-416-3363
mflorin@maydinnewscorp-com
Leslie Kim
212-416-4529
lkim@newscorp.com
News Corp Corporate Communications
Jim Kennedy
212-416-4064
jkennedy@newsc
LINK: | https://newscorp.com/2021/11/04/news-corp-reports-first-quarter-result... |
See more stories from newscorp |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
17/05/2024
Meet the product manager
Muster Ngobi, product manager at LYNX Technik tells TVBEurope how the ever-evolving media industry provides a truly dynamic working environment By Matthew Corr...
17/05/2024
TV, Streaming Schedule for 2024 NFL Regular Season Is Released
NEW YORK As declines in linear TV viewing make the ongoing popularity of live sports, particularly football, central to financial success of the TV industry, th...
17/05/2024
Netflix Ad Tier Hits 40M Monthly Active Users
During Netflixs second Upfront presentation to advertisers, Amy Reinhard, Netflix's president of advertising, walked advertisers through the continued growt...
17/05/2024
Scripps Promotes Jeff Kiernan to VP, Local News
CINCINNATI The E.W. Scripps Company has added to its leadership team for news by promoting Jeff Kiernan a veteran journalist and general manager of Scripps'...
17/05/2024
Survey: New Disney-Fox-WBD Sports Streamer May Hurt Pay TV Sub Counts
Top executives from Disney, Fox and Warner Bros. Discovery have consistently insisted that their joint venture to launch the Venu Sports streaming bundle in the...
17/05/2024
Caitlin Clark's WNBA Debut Set Viewing Records
ESPN has announced that its coverage of Caitlin Clark's WNBA debut in the Indiana Fever versus the Connecticut Sun season opener was the most-watched WNBA g...
17/05/2024
ATEM Mini Extreme ISO switcher and Blackmagic Pocket Cinema Camera 4K
ATEM Mini Extreme ISO switcher and Blackmagic Pocket Cinema Camera 4K Brie Clayton May 16, 2024 0 Comments Blackmagic Design announced today that Yoic...
17/05/2024
Pixomondo's Virtual Production Academy Expands with Programs at Sony PCL, Vook, and Vancouver Film School
Pixomondo's Virtual Production Academy Expands with Programs at Sony PCL, Vo...
17/05/2024
WBD Upfront Show Offers Peeks at House of the Dragon,' White Lotus,' Biden-Trump Debate
The Warner Bros. Discovery upfront presentation took place Wednesday, May 15 at ...
17/05/2024
The Black Keys, Jelly Roll, Kate Hudson Set To Perform on The Voice' Finale
Season 25 of The Voice wraps on NBC Tuesday, May 21, with performances from The Black Keys, Jelly Roll, Kate Hudson, Lainey Wilson, Muni Long, Thomas Rhett and ...
17/05/2024
CNN Boss Mark Thompson's Plan Includes More News in More Categories on More Devices (Upfronts)
New CNN CEO Mark Thompson spelled out his plan for the struggling news network d...
17/05/2024
Netflix To Launch In-House Advertising Tech Platform
Netflix, a newcomer to the advertising business, said it plans to launch an in-house advertising technology platform....
17/05/2024
Netflix Plots TV Takeover at Upfront Presentation
Netflix shared some programming projects at an upfront presentation in New York. Those include the basketball-themed comedy series Running Point, a Mindy Kaling...
17/05/2024
Plex Geek Week Sale Offers 20% Off Plex Lifetime Pass
Plex is offering movie and music collectors a 20% discount off its Lifetime Plex Pass as part of its Geek Week sale....
17/05/2024
GroupM Names Toby Jenner as President, GroupM Clients
Giant media buyer GroupM said it named Toby Jenner as global president, Group M Clients, a new position at the company....
17/05/2024
Clients of Independent Agencies Boost Programmatic Buying
Smaller advertisers are increasingly buying connected TV programmatically, according to a new report from FreeWheel, Comcast's ad-tech unit....
17/05/2024
TCLtvPlus Adds Streaming Music Channels From Vevo
TCLtvPlus, the streaming app on smart TVs made by TCL, has added live linear channel from music-video programmer Vevo....
17/05/2024
StackAdapt Adopts Data From Samba TV for Programmatic Campaigns
StackAdapt said it made a deal to integrate data from Samba TV into its programmatic advertising platform....
17/05/2024
May 16, 2024
Scripps Research chemist Donna Blackmond elected to the Royal Society of the U.K. Blackmond's wide-ranging work has shaped origin of life theories, our unde...
16/05/2024
Power Provokes Vital Questions About the Role of Police
PARK CITY, UTAH - JANUARY 18: Director Yance Ford introduces the Power premiere at Library Center Theatre. (Photo by Chad Salvador/Shutterstock for Sundance F...
16/05/2024
Mental Health Matters: Embrace Self-Care With These Audiobook and Podcast Listens
May is Mental Health Awareness month, a time to recognize those living with ment...
16/05/2024
ABC and SBS bring digital radio (DAB+) services to the Gold Coast
ABC and SBS bring digital radio (DAB ) services to the Gold Coast 15 May, 2024 Media releases ABC and SBS today announced that audiences on the Gold Coast ...
16/05/2024
Clear-Com Communication Solutions Enhance Oregon State University's PRAx Building
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...
16/05/2024
6 New Clearmountain's Domain Presets
Share this article width=32 height=32 data-lazy-src=https://apogeedigital.com/app/themes/juniper-theme/src/img/icons/facebook-purple.svg /> width=32 height=...
16/05/2024
Updated: Netflix to Stream Live Christmas Day NFL Games
In a major example of how large streaming services are successfully battling for lucrative sports rights, Netflix has announced that it has secured global right...
16/05/2024
ESPN, Fox, WBD Unveil Name for New Sports Streaming Service
LOS ANGELES & NEW YORK More than three months after announcing plans to launch a major new sports streaming service, ESPN, Fox Corp. and Warner Bros. Discovery,...
16/05/2024
CTV/Streaming Top of Mind for Marketers in 2024
In a survey conducted late last year, marketing companies said their main focus for increasing advertising would be CTV/streaming. Generative AI, which was not ...
16/05/2024
CPB Issues More Grants for Next-Generation Warning
Three public radio and one public television outlet are the latest recipients of funding from the Corporation for Public Broadcasting to upgrade their emergency...
16/05/2024
A year in live HDR production
John Mailhot, senior vice president, product management at Imagine Communications, gives an insight into how HDR is impacting live production today, as well as ...
16/05/2024
Sony Pictures Post Production Services Completes Expansion of its Sound Facilities
Sony Pictures Post Production Services Completes Expansion of its Sound Faciliti...
16/05/2024
Telestream Taps Power of AI to Manage, Define Media Workflows
TV Tech recently sat down with Telestream CEO Rhonda Bassett-Spiers and CTO Simon Clark to discuss how the M&E industry is adapting the cloud, IP and AI to enha...
16/05/2024
1185 Films launches one stop shop' for industry talent
1185 Talent will include directors, editors, colourists, VFX artists and photographers By Jenny Priestley Published: May 16, 2024 1185 Talent will include...
16/05/2024
Updated: Presteigne Broadcast Hire enters administration
The administrators said they are focused on trading the business as a going concern while they assess options, including exploring the possibility of a sale By...
16/05/2024
AWS CEO Adam Selipsky steps down
Selipsky will leave the company on 3rd June, and will be succeeded by Matt Garman, a senior vice president who has overseen sales and marketing at AWS By Jenny...
16/05/2024
Sony Pictures Post Production Services Completes Sound Facilities Expansion
Sony Pictures Post Production Services has announced that the final phase of a multi-year effort to expand and modernize its motion picture and television sound...
16/05/2024
CNN, ABC to Televise Two Presidential Debates
President Joe Biden and Former President Donald Trump have agreed to participate in two televised debates, the first of which will be hosted by CNN on June 17....
16/05/2024
Disney+ Debuts First Concert Film to Stream with IMAX Enhanced Sound
BURBANK, Calif. and NEW YORK Disney+, IMAX Corporation, and DTS, a wholly-owned subsidiary of Xperi, have announced that Queen Rock Montreal is now streaming ...
16/05/2024
WBD Unveils Advanced Advertising Features for Max
NEW YORK During its upfronts presentation, Warner Bros. Discovery announced a suite of new advanced ad products available on Max, that include shoppable ads, ad...
16/05/2024
iZotope announces RX 11 audio software, introducing new machine learning for tackling noise, and new tools for music streaming
iZotope announces RX 11 audio software, introducing new machine learning for tac...
16/05/2024
Check Out the Cine Gear Expo June 7 9, 2024 at Warner Bros. Studios in Burbank, CA
Check Out the Cine Gear Expo June 7 9, 2024 at Warner Bros. Studios in Burbank...
16/05/2024
Nouvel Photo & Film Captures Cinematic Wedding Films with Blackmagic Cinema Camera 6K
Nouvel Photo & Film Captures Cinematic Wedding Films with Blackmagic Cinema Came...
16/05/2024
Replacing Surfaces Like a Pro with Mocha AE Planar Tracking
Replacing Surfaces Like a Pro with Mocha AE Planar Tracking Levi Borland May 15, 2024 0 Comments Welcome to our comprehensive tutorial on planar track...
16/05/2024
CBC's CPL Teams Salamanders, Yard Gnomes One Week Away From Season Opener
The world of baseball at Capitol Broadcasting is about to expand like fireworks on a Friday night. The Holly Springs Salamanders will open their season at home...
16/05/2024
Blockgraph Adopted by tvbeat, Enabling Audience-Based Planning
Blockgraph said that its identity and data collaboration platform has been adopted by tvbeat, a provider of campaign planning technology for media companies....
16/05/2024
Tonight on House of Zwide: Nkosi is angry and accuses Shoki of keeping secrets from him
Tonight on House of Zwide: Nkosi is angry and accuses Shoki of keeping secrets f...
16/05/2024
Tonight on Smoke and Mirrors: Phakathi examines the CCTV coverage and questions Jaxon
Tonight on Smoke and Mirrors: Phakathi examines the CCTV coverage and questions ...
16/05/2024
Tonight on Scandal: A terrifying story pushes Dintle into making a life-altering decision
Tonight on Scandal: A terrifying story pushes Dintle into making a life-altering...
16/05/2024
VEON 1Q24 Trading Update: Accelerating USD Growth, Strong Operational Execution
16 May 2024 VEON 1Q24 Trading Update: Accelerating USD Growth, Strong Operational Execution Amsterdam, 16 May 2024 07:00AM CEST - VEON Q1 2024 Highlights Q1...