Sony Digital Rapids Pixel Power calrec Sony

News Corp Reports Second Quarter Results for Fiscal 2019

08/02/2019

News Corp Reports Second Quarter Results for Fiscal 2019

Fiscal 2019 Second Quarter Key Financial Highlights

Revenues of $2.63 billion, a 21% increase compared to $2.18 billion in the prior year, reflecting the consolidation of Foxtel and continued strength at the Book Publishing and Digital Real Estate Services segments

Net income was $119 million compared to a net loss of ($66) million, which included a $174 million negative impact related to the U.S. Tax Cuts and Jobs Act in the prior year

Total Segment EBITDA was $370 million compared to $328 million in the prior year

Reported EPS were $0.16 compared to ($0.14) in the prior year - Adjusted EPS were $0.18 compared to $0.24 in the prior year

Continued revenue improvement at Dow Jones driven by record digital advertising revenues and acceleration in digital paid subscriber growth

Digital Real Estate Services segment reported strong revenue growth supported by continued product innovation, higher yields and expansion into new revenue streams

HarperCollins achieved record revenue and Segment EBITDA in the quarter

Launched Kayo Sports, a sports-only streaming service, in Australia

New York, NY - February 7, 2019 - News Corporation ( News Corp or the Company ) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December 31, 2018.

Commenting on the results, Chief Executive Robert Thomson said:

News Corp has reported increased profitability and revenue growth during the first half of Fiscal 2019, highlighting the power of premium content and authenticated audiences in a fact-challenged world that craves credibility.

For the second quarter, the Company saw 21% revenue growth and a 13% rise in profitability, reflecting the consolidation of Foxtel and a healthy expansion of revenues in the Book Publishing and Digital Real Estate Services segments.

At News and Information Services, we saw a continuation of positive trends in paid digital subscriptions, including accelerating gains at The Wall Street Journal, and stronger digital advertising revenues in both the U.S. and Australia.

Although our teams have been diligent in pursuing revenue opportunities, the digital platforms, which arbitrage algorithmic ambiguity, remain dysfunctional. It is clear that there has been a regulatory awakening and the time has come for a regulatory reckoning.

At our Digital Real Estate Services segment, despite sluggishness in the U.S. property market, Move delivered another quarter of double-digit revenue growth, driven by product innovation at realtor.com and the acquisition of Opcity, a strategically important asset that will provide higher quality, value-added leads for brokers.

Within our Subscription Video Services segment, this quarter we launched Kayo Sports, a sports-only OTT product, to positive reviews, and we look forward, with confidence, to the peak selling season for the most popular winter sports in Australia.

Finally, HarperCollins had another outstanding quarter, benefiting from best-in-class content and the burgeoning of digital audio.

Second Quarter Results

The Company reported fiscal 2019 second quarter total revenues of $2.63 billion, a 21% increase compared to $2.18 billion in the prior year period. The growth reflects the impact from the consolidation of Foxtel's results following the combination of Foxtel and FOX SPORTS Australia (the Transaction ) into a new company ( new Foxtel ) and continued strong performances at the Book Publishing and Digital Real Estate Services segments, partially offset by lower print advertising revenues at the News and Information Services segment. The results also include a $67 million negative impact from foreign currency fluctuations and $20 million of lower revenues as a result of the adoption of the new revenue recognition standard. Adjusted Revenues (which exclude the foreign currency impact and acquisitions and divestitures as defined in Note 1) increased 3%.

Net income for the quarter was $119 million compared to a net loss of ($66) million in the prior year, reflecting the absence of the $174 million negative impact of the U.S. Tax Cuts and Jobs Act recognized in the second quarter of fiscal 2018, higher Total Segment EBITDA, as discussed below, and higher Other, net, partially offset by higher depreciation and amortization expense and interest expense as a result of the Transaction.

The Company reported second quarter Total Segment EBITDA of $370 million, a 13% increase compared to $328 million in the prior year, also reflecting the Transaction. Adjusted Total Segment EBITDA (as defined in Note 1) increased 2% as continued strength in the Book Publishing and Digital Real Estate Services segments was partially offset by lower contribution from the News and Information Services segment.

Net income per share available to News Corporation stockholders was $0.16 as compared to a net loss per share of ($0.14) in the prior year.

Adjusted EPS (as defined in Note 3) were $0.18 compared to $0.24 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. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services and subscription video services in Australia. Headquartered in New York, News Corp operates primarily in the United States, Australia, and the United Kingdom, and its content is distributed and consumed worldwide. More information is available at: http://www.newscorp.com.

Contacts

News Corp Investor Relations

Michael Florin

212-416-3363

mflorin@newscorp.com

News Corp Corporate Communications

Jim Kennedy

212-416-4064
LINK: https://newscorp.com/2019/02/07/news-corp-reports-second-quarter-resul...
See more stories from newscorp

Most recent headlines

22/02/2019

Cantemo Portal 4.0 Release

Cantemo Portal 4.0 is the largest release in four years. This has been the result of a growing team and working closely with our customers, who run some of the...

22/02/2019

Jordan Rudess Features Ivory II On New Dream Theater Album: "Distance Over Time"!

Progressive music titans Dream Theater have released their newest album Distance...

22/02/2019

NOKIA : Nokia MBiT Index reports 4G contributed to 92% of total data traffic in 2018 in India

Overall data traffic grew by 109% Average data usage per month reached 10 GB ...

22/02/2019

#MWC19: Nokia 5G Maturity Index reveals best practices as operators make critical 5G network and service investment decisions

Press Release Industrys first 5G Maturity Index guides operators on how to ali...

22/02/2019

OTT vs Broadcast Workflows

Broadcast VS. OTT Workflows at HPA HPA this year truly presented us with five days of candid conversation with world-class thinkers. The conference brought cont...

22/02/2019

The essence of the arctic

Exclusive video shows how photographer captures the remote beauty of nature from the sky to the seas Norwegian photographer and Sony ambassador Ole Salomonsen ...

21/02/2019

More Live broadcasts, more original reporting: 2019 is a landmark year for AFP video

Today, hundreds of active users from major international and national TV channel...

21/02/2019

HPA Tech Retreat: In Pursuit of AI-Powered Film Restoration

What if you could restore a film - at 12 million frames per second - in two weeks? That's a case study that Video Gorillas chief executive Jason Brahms desc...

21/02/2019

HPA Tech Retreat: Take a Tour of the Netflix Media Database

In a Wednesday morning session at the HPA Tech Retreat in Palm Desert, Netflix's Rohit Puri, engineering manager of the Cloud Media Systems team took attend...

21/02/2019

NAB Developing Best Practices' Guidelines For Next Gen TV

A standard feature of the annual Hollywood Professional Association (HPA) Tech Retreat being held here is the Wednesday Broadcasters' Panel. At this year...

21/02/2019

Wednesday at the HPA Tech Retreat-The Future, the Fakes and HDR

After a round of Breakfast Roundtables beginning at 7:30 AM this morning, featuring the likes of Anthony Howe from Microsoft Azure, Kevin Scott of Signiant, Adr...

21/02/2019

HPA Tech Retreat: Trusted Partner Network Gains Steam

Today's advanced methods of film and TV production is fueled by an ever-growing ecosystem of third-party vendors, offering content creators innovative ways ...

21/02/2019

Ericsson and VMware form alliance to simplify network virtualization for CSPs

Ericsson (NASDAQ: ERIC) and VMware (NYSE: VMW) have signed a global alliance agreement that will simplify deploying and running a combination of Ericsson applic...

21/02/2019

Ericsson executive Q&A: Jan Karlsson

Karlsson addresses the network virtualization and cloud-native technology realities and challenges facing service providers; how Ericsson Digital Services is wo...

21/02/2019

New Forensic Drama Traces to be produced for Crime channel Alibi

The six-part series, Traces (6 60'), is written by Amelia Bullmore (Scott and Bailey, This Life) for UKTV and BBC Studios Distribution. Traces is based on a...

21/02/2019

PJ MASKS LIVE OPENS TOUR WITH RECORD BREAKING SALES! EMBARKS ON 100 CITY NORTH AMERICAN TOUR

BACKPJ MASKS LIVE OPENS TOUR WITH RECORD BREAKING SALES! EMBARKS ON 100 CITY NOR...

21/02/2019

ENTERTAINMENT ONE STRIKES EXCLUSIVE PARTNERSHIP WITH NASHVILLE BASED, GRAMMY AWARD WINNING PRODUCER/SONGWRITER, AARON PEARCE

BACKENTERTAINMENT ONE STRIKES EXCLUSIVE PARTNERSHIP WITH NASHVILLE BASED, GRAMMY...

21/02/2019

Benefits to Getting Your Metadata House' in Order

Benefits to Getting Your Metadata House' in Order January 7, 2019 By Crist Myers The start of each new year often ushers in ideals for improvement, alo...

21/02/2019

CX MEDIA REVIEWS d:vote CORE 4099

Ultimately the long and short of it is that the 4099 is a brilliantly versatile, accurate, and deployable mic. With the CORE edition DPA has taken a good thing ...

21/02/2019

Low Power Mobile IoT Networks Now Available from All Leading IoT Operators Worldwide

94 Mobile IoT Networks Available Worldwide Covering All Major IoT Markets; Thous...

21/02/2019

New GSMA Report Highlights Global Role of Intelligent Connectivity

Combination of 5G, AI, Big Data and IoT Will Positively Impact Multiple Sectors; 5G Connections to Reach 1.4 Billion by 2025 Barcelona: The GSMA today issu...

21/02/2019

CBS Corporation Announces $500 Million Senior Notes Offering

Feb 20 2019 CBS Corporation (NYSE: CBS.A and CBS) today announced the pricing of a debt offering of $500 million of 4.200% senior notes due 2029. The sale of ...

21/02/2019

CBS Corporation Announces Redemption of 2.300% Senior Notes Due 2019

Feb 20 2019 CBS Corporation (NYSE: CBS.A and CBS) today announced the full redemption of its outstanding 2.300% senior notes due August 15, 2019. The redempti...

21/02/2019

TechnipFMC Announces Fourth Quarter 2018 Results

Press release | February 20, 2019 TechnipFMC Announces Fourth Quarter 2018 Results LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- Regulatory News: TechnipFMC p...

21/02/2019

TechnipFMC Fourth Quarter 2018 Earnings Call Presentation

Press release | February 21, 2019 TechnipFMC Fourth Quarter 2018 Earnings Call Presentation LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- Regulatory News: Tec...

21/02/2019

EditShare Flow 2019 Extension 2 Expands Support for Enterprise Installations

-- EditShare Flow 2019 Extension 2 Expands Support for Enterprise Installations Data migration and new remote editing capabilities fuel large-scale media workf...

21/02/2019

The Pay-TV Service Provider's Guide to 2019 Success - Part 2

The first post in this series addressed advanced data analytics, content protection, Android TV and the service provider's emerging role as super-aggregator...

21/02/2019

2019 NAB Crystal Radio Awards Finalists Announced

2019 NAB Crystal Radio Awards Finalists Announced Washington, D.C. -- The National Association of Broadcasters announced the 50 finalists for the 32nd annual N...

21/02/2019

Xilinx Extends its Breakthrough Zynq UltraScale+ RFSoC Portfolio to Full sub-6GHz Spectrum Support

Xilinx Extends its Breakthrough Zynq UltraScale RFSoC Portfolio to Full sub-6GH...

21/02/2019

Grass Valleys Peter Centen Honored with Prestigious Dutch National Order

Grass Valleys Peter Centen Honored with Prestigious Dutch National Order BREDA, NETHERLANDS, February 21, 2019 Grass Valley, a Belden Brand, congratulates P...

21/02/2019

Nedbank Cup: Chiefs drawn against Cape Town City in quarterfinal

The Nedbank Cup threw what promises to be another titanic clash, with Kaizer Chiefs drawn against Cape Town City. The draw for the prestigious competition took...

21/02/2019

Manchester United v Liverpool: This is the biggest and best game to be involved in

Manchester United defender Luke Shaw says that caretaker manager Ole Gunnar Sols...

21/02/2019

Watch: Latest Skeem Saam episode for Thursday, 21 February [video]

On tonight's episode: Tensions mount between Lelo and Lehasa as they continue to outwit each other. The tables begin to turn as Alfred garners sympathy from...

21/02/2019

Watch: Uzalo latest episode, Thursday 21 February 2019 [video]

In today's episode of Uzalo: MaNgcobo is forced to tread carefully with her business with Njeza. Lilly makes her presence known at the police station. Njeza...

21/02/2019

Annelisa Weiland aka Hilda from 7de Laan just turned 70

Everyone's favourite spinnekopvroutjie, known for her inventive food combinations and generally being lovely, hit the big seventy this week. Actor Annelisa...

21/02/2019

Crystal Vision and Rascular demonstrating multi-vendor IP system compatibility at BVE 2019

Rascular, designers of manual and automated control applications for third-party...

21/02/2019

Get Your Fill of Guided Meditation, Audiobooks, Short Stories, and Poetry on Spotify

Books and poems aren't just for reading. They're also rich, lyrical work...

21/02/2019

Around the Biz 2/21/19: Oakland Raiders, Coliseum Near Deal for 2019-20; Arrowhead Stadium Receives $11.5M Check for Upgrades

Around the Biz 2/21/19: Oakland Raiders, Coliseum Near Deal for 2019-20; Arrowhe...

21/02/2019

SVG Sit-Down: Southpaw's Matt Ritter on Acquisition of Panasonic Live Events Group, Goals in Sports-Venue Industry

SVG Sit-Down: Southpaw's Matt Ritter on Acquisition of Panasonic Live Events...

21/02/2019

LAFC Explodes Onto L.A. Sports Scene With Beautiful Banc of California Stadium

LAFC Explodes Onto L.A. Sports Scene With Beautiful Banc of California Stadium Soccer-specific venue features more than 15,000 sq. ft. of LED signage By Karen ...

21/02/2019

NBC Sports Group President Pete Bevacqua Expands Role; Takes on Olympics, Production, and Operations

NBC Sports Group President Pete Bevacqua Expands Role; Takes on Olympics, Produc...

21/02/2019

Full Sail University Builds Massive Esports Venue

Full Sail University Builds Massive Esports Venue The 500-seat Fortress' is the largest esports arena in an education environment By Dan Daley, Audio Edit...

21/02/2019

Legal, Technical Frameworks to Fight Piracy Highlight Sports Anti-Piracy Summit Sessions

Legal, Technical Frameworks to Fight Piracy Highlight Sports Anti-Piracy Summit ...

21/02/2019

NAB 2019: Remote Production Control-Over-IP Now Available with Commander UI for BPswitch

Chelmsford, Mass. - Feb. 21, 2019 - Broadcast Pix today announced the upgraded ...

21/02/2019

Master of Light Spotlight: Terry Donnelly swings into action with the Rotolight AEOS

In the early hours of a cold January morning, Rotolight Master of Light, Terry D...

21/02/2019

Lawo establishes UK subsidiary and strengthens local Sales and Support

Raising its commitment to the UK marketplace and acknowledging growing demand for its IP-based video, audio, control and networking technologies, German broadca...

21/02/2019

Halon Creates Postvis for Aquaman

Despite our recent recognition for our previs work on The Final Battle sequence, we originally dove into the massive underwater sandbox of Aquaman in a postvi...

21/02/2019

Super Underwater Effects

A big story demands big visual effects. So when Warner Bros. Pictures and director James Wan brought the origin story of DC Comics' Aquaman to life, it was ...

21/02/2019

Flack and light

TVBEurope talks to DoP Ruairi O'Brien about his work on UKTVs drama series Flack Contributor 3 hours ago TVBEurope talks to DoP Ruairi O'Brien ab...