News Corp Reports Second Quarter Results for Fiscal 2022
03/02/2022
Fiscal 2022 Second Quarter and First Half Key Financial Highlights
Revenues in the quarter were $2.72 billion, a 13% increase compared to $2.41 billion in the prior year and the highest quarterly revenue since separation. Revenues in the first half rose 15% year-over-year
Net income in the quarter was $262 million, flat compared to $261 million in the prior year. Net income in the first half rose 72% year-over-year
Total Segment EBITDA in the quarter was $586 million, an 18% increase compared to $497 million in the prior year. Total Segment EBITDA in the first half rose 30% year-over-year
In the quarter, Reported EPS were $0.40 compared to $0.39 in the prior year - Adjusted EPS were $0.44 compared to $0.34 in the prior year. In the first half, Reported diluted EPS were $0.72 and Adjusted EPS were $0.67
Digital Real Estate Services segment revenues grew 35% in the quarter, with continued traffic gains at Move, operator of realtor.com , and strong listing volumes at REA Group
Dow Jones again saw its highest quarterly profitability since its acquisition and highest revenue since fiscal 2011
As of the end of December, Foxtel's total streaming subscribers grew 66% compared to the prior year with BINGE and Kayo each reaching more than 1 million total subscribers
News Media Segment EBITDA in the quarter grew 68% as the businesses continued to benefit from the rebound in the advertising market, new content licensing revenues and strong digital subscriber gains
New York, NY - February 3, 2022 - News Corporation ( News Corp or the Company ) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December 31, 2021.
Commenting on the results, Chief Executive Robert Thomson said:
For the first half of fiscal year 2022, News Corp's profitability reached nearly $1 billion, up 30% year-over-year, with the second quarter delivering record revenues and the highest profit of any quarter since the company was formed in 2013.
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. Meanwhile, Foxtel's streaming products flourished, with a 66 percent increase in total customers, and Kayo and BINGE both exceeding one million.
We are delighted with our planned acquisitions of the OPIS and Base Chemicals businesses, which we expect will close in the first half of calendar 2022 and bolster the highly profitable Dow Jones Professional Information Business.
The landmark agreements with Big Tech continued to benefit our journalism and our bottom line. In addition to the substantial deals with Google and Facebook, we expanded our multi-year global agreement with Apple, which is expected to be an important source of subscriptions and of advertising revenue for our news sites around the world.
Our increasing momentum has given us the ability to make opportunistic acquisitions and further our $1 billion share buyback program. News Corp is clearly going from strength to strength.
Second Quarter Results
The Company reported fiscal 2022 second quarter total revenues of $2.72 billion, which was the highest quarterly revenue since separation and was also 13% higher compared to $2.41 billion in the prior year period. The increase reflects growth in all revenue lines, primarily in real estate and advertising, as well as recent acquisitions. Adjusted Revenues (which exclude the foreign currency impact, acquisitions and divestitures as defined in Note 2) increased 8%.
Net income for the quarter was $262 million, flat compared to $261 million in the prior year, reflecting higher Total Segment EBITDA, as discussed below, offset by lower Other, net, higher tax expense and higher interest expense.
The Company reported second quarter Total Segment EBITDA of $586 million, which was also the highest since separation. Total Segment EBITDA grew 18% compared to $497 million in the prior year, primarily due to higher revenues, as discussed above, partially offset by higher costs across all operating segments, including the impact of recent acquisitions. Adjusted Total Segment EBITDA (as defined in Note 2) increased 16%.
Net income per share attributable to News Corporation stockholders was $0.40 as compared to $0.39 in the prior year.
Adjusted EPS (as defined in Note 3) were $0.44 compared to $0.34 in the prior year.
Please click here for the full Earnings Release information.
###
About News Corporation
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: www.newscorp.com.
Contacts:
Investor Relations
Michael Florin
212-416-3363
mflorin@newscorp.com
Leslie Kim
212-416-4529
lkim@newscorp.com
News Corp Corporate Communications
Jim Kennedy
212-416-4064
jkennedy@newscorp.com
LINK: | https://newscorp.com/2022/02/03/news-corp-reports-second-quarter-resul... |
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...
01/05/2024
Release Rundown: What to Watch in May, From I Saw the TV Glow to Power
Owen (Justice Smith) and Maddy (Brigette Lundy-Paine) develop an eerie connection to a supernatural TV show in Jane Schoebrun's I Saw the TV Glow....
01/05/2024
Celebrate May the 4th With Special Star Wars' Playlists, Audiobooks, and More
Spotify's Star Wars celebrations are in full Force starting today, and this ...
01/05/2024
Spotify's New Hardcore Gardening Playlist and Brain Dead Collab Will Rattle Greenhouses Everywhere
All around the world, millions of Spotify fans love listening to hardcore punk m...
01/05/2024
THE CALL FOR THE FIFTH PRESIDENTIAL EMPLOYMENT STIMULUS PROGRAMME (PESP5) FOCUSED ON THE AUDIO-VISUAL INDUSTRY, IS OPEN.
THE CALL FOR THE FIFTH PRESIDENTIAL EMPLOYMENT STIMULUS PROGRAMME (PESP5) FOCUSE...
01/05/2024
QTAKE Pioneers Live 3D Stream to Apple Vision Pro
QTAKE, the leading video assist and on-set collaboration software trusted by professional filmmakers worldwide, launched a new cutting-edge feature at NAB 2024....
01/05/2024
LA County Opens Entertainment Business Interruption Fund Grant Program for Small Business, LAEDC Offers Updates
In HPA's ongoing focus on providing input and insight from city and county g...
01/05/2024
Trailblazing AI Storytelling by Empowering Storytellers: Curious Refuge
HPA Newsline had the opportunity to speak with Caleb and Shelby Ward, founders of Curious Refuge. Caleb and Shelby were participants in the 2024 HPA Tech Retrea...
01/05/2024
Supporting Global Air Traffic Modernization through Managed Services Infrastructure
L3Harris works with air navigation service providers who efficiently manage air ...
01/05/2024
Q&A with Scott Alexander, Aerojet Rocketdyne's new Missile Solutions President
Scott Alexander, Missile Solutions President, Aerojet Rocketdyne...
01/05/2024
Comcast: More Than Half of Viewers Frustrated About Finding Content
NEW YORK Just over half of U.S. viewers are frustrated over their ability to be able to find content to watch on TV according to Comcast....
01/05/2024
Bally RSNs Go Dark On Comcast Systems
Bally Sports Regional Networks were taken off Comcast's systems on April 30 when their existing distribution agreement expired and Diamond Sports Group was ...
01/05/2024
NXTGENbps powers Molinare's Notorious DIT
NXTGENbps battery solutions are designed to replace diesel generators and offer silent, emission-free power for various applications in film, TV, outside broadc...
01/05/2024
Elodie Ichter Joins Light Iron as Senior Colorist
Light Iron, the post-production creative-services division of Panavision, is excited to announce that lodie Ichter has joined the company's artist roster a...
01/05/2024
CJP presents live mo-cap demos at MPTS
CJP Broadcast Service Solutions, systems integration, production and content digitisation specialist, will feature live motion capture demonstrations at the 202...
01/05/2024
Media Links Partners with Sunteq for Representation in S...
Media Links, manufacturer and pioneer in Media over IP transport technology, has partnered with Sunteq spol s.r.o., a leading reseller located in Slovakia to st...
01/05/2024
Dot Group Showcases Enhanced Data Management and Sustaina...
Dot Group, a leader in cutting-edge data management solutions and the premier European reseller of critical Broadcast supporting IBM technologies, will demonstr...
01/05/2024
Glensound shows the latest in IP audio at MPTS
Glensound, industry leader in high quality audio systems, is showcasing the latest additions to its extensive portfolio of networked audio products at MPTS. Aud...
01/05/2024
Hitomi Broadcast to demonstrate ST2110 MatchBox at MPTS
Hitomi Broadcast, a leader in audio/video alignment and latency solutions, will be demonstrating advancements in SMPTE ST2110 workflows ensuring broadcasters ha...
01/05/2024
Leading UK vendors join in the CABSAT 30th anniversary ce...
Taking a leading role in the 30th anniversary CABSAT exposition (Dubai World Trade Centre, 21 23 May), the GREAT Britain and Northern Ireland pavilion will fe...
01/05/2024
NXTGENbps Powers Notorious DITs Green Energy Initiative w...
NXTGENbps, a pioneer in green energy solutions, proudly announces its partnership with Notorious DIT, a leading provider of digital imaging technology services ...
01/05/2024
Videosys Broadcast Brings Pan and Tilt To Coverage Of The...
As Cambridge celebrated its double win over Oxford in the 2024 Boat Race, behind the scenes celebrations were also taking place at Videosys Broadcast to mark th...
01/05/2024
Live After 5' summer concert series returns to downtown Raleigh
A popular - and free - summer concert series is coming back to downtown Raleigh! WRAL is proudly partnering with Downtown Raleigh Alliance for its Live After ...
01/05/2024
Cadent Launches Performance TV To Boost Omnichannel Ad Results
Cadent said it launched Performance TV, designed to increase the effectiveness of campaign by combining the reach of traditional linear TV with the targeting of...
01/05/2024
Eric Johnson, KOMO Seattle Anchor, Sets Retirement
Eric Johnson, anchor at KOMO Seattle, will retire as of June 6. Johnson anchors the 5 and 6 p.m. weekday newscasts and writes/produces/hosts Eric's Heroes,...
01/05/2024
T-Mobile Dials Deeper Into Ad Business With Retail Network (NewFronts)
T-Mobile said it is expanding its advertising business, creating an in-store retail media network and adding Plex, the video streaming platform for its footprin...
01/05/2024
Samsung Ads Expands AI Tools To Target Streaming Viewers (NewFronts)
Samsung Ads said it was introducing new opportunities for advertisers to use data about its viewers to target viewers across the full marketing funnel at its Ne...
01/05/2024
Samsung TV Plus Swings for the Fences With Streaming Sports Channels (NewFronts)
Samsung's ad-supported streaming platform Samsung TV Plus is putting more sports in its lineup with free channels about baseball, golf, hockey, auto racing ...
01/05/2024
Dan Rather Documentary Offers Open-Book' Look at Newsman
Rather, a documentary about famed newsman Dan Rather, premieres on Netflix May 1. The film looks at his rise to prominence in TV news, including his work coveri...
01/05/2024
Ken Wayne, KRON San Francisco Anchor, Retires Next Month
Ken Wayne, evening anchor at KRON San Francisco, is retiring after 33 years in Bay Area television. He was born in Marin County, started his journalism career a...
01/05/2024
Jeff Blaszak Promoted To Senior VP at ShowSeeker
ShowSeeker, the company behind the Pilot cloud-based order management system, said it promoted Jeff Blaszak to senior VP of business operations and strategy....
01/05/2024
Great American Media Picks VideoAmp As Ad Currency
Great American Media said it reached an agreement with VideoAmp that will enable clients to use VideoAmp's ad buying measurement and data capabilities when ...
01/05/2024
NXTGENbps powers Molinaire's Notorious DIT
NXTGENbps battery solutions are designed to replace diesel generators and offer silent, emission-free power for various applications in film, TV, outside broadc...
01/05/2024
Amazon CEO: AWS has multi-billion dollar revenue run rate in AI already
Sales rose to $25bn during the first three months of 2024, up 17 per cent year-on-year By Matthew Corrigan Published: May 1, 2024 Sales rose to $25bn duri...
01/05/2024
Roku to Offer NBC Olympics Zone
NEW YORK NBCUniversal and Roku are teaming up to offer the NBC Olympic Zone on Roku, a new destination on the Roku Home Screen Menu. The dedicated channel wil...
01/05/2024
U.K.'s Freely Officially Launches
Freely the new streaming service backed by Britain's leading broadcasters BBC, ITV, Channel 4 and Channel 5 is now available through the next generation of ...
01/05/2024
Study: FAST Channel Growth Accelerates
NEW YORK A new report on free, ad-supported streaming channels indicates that their growth continues to accelerate, with the number of channels hours views and ...
01/05/2024
VuWall Unveils New Capabilities For VuStream 150 Video Encoder
MONTREAL VuWall has enhanced its VuStream 150 H.264 video encoder with new features and capabilities, including support for HDMI signals at resolutions up to 38...
01/05/2024
Samsung TV Plus Announces New High-Profile FAST Channels for Sports
NEW YORK At the IAB NewFronts 2024, Samsung Ads announced a new lineup of premium sports, music, family and entertainment content on its leading FAST service Sa...
01/05/2024
WAPA TV Celebrates 70th Anniversary As #1 Station in Puerto Rico
SAN JUAN, PUERTO RICO WAPA TV has announced that it will be celebrating its 70th anniversary on May 1 as the number 1 broadcasters on the island....
01/05/2024
Diamond Sports Group Renews Its Distribution Deal with Cox
SOUTHPORT, Conn. & ATLANTA Diamond Sports Group and Cox Communications have reached a multi-year renewal of their distribution agreement for the continued carri...
01/05/2024
Warner Bros. Discovery Networks Dropped by Fubo
As the NBA playoffs heat up on TNT, Warner Bros. Discovery and FuboTV have been unable to reach a new distribution deal. That impasse forced the vMVPD to drop T...
01/05/2024
Time for NAB Reality Check
Time for NAB Reality Check Andy Marken April 30, 2024 0 Comments Above image source - Allegiant, Summit Entertainment Great leaders don't seek...
01/05/2024
Dream Street Productions Switches Live Corporate Events with ATEM Television Studio HD8 ISO
Dream Street Productions Switches Live Corporate Events with ATEM Television Stu...
01/05/2024
lodie Ichter Joins Light Iron as Senior Colorist
lodie Ichter Joins Light Iron as Senior Colorist Brie Clayton April 30, 2024 0 Comments Acclaimed colorist brings global expertise on high-profile pro...
01/05/2024
SVG Digital Engagement Forum: Sessions Now Available to Watch on SVG PLAY
SVG Digital Engagement Forum: Sessions Now Available to Watch on SVG PLAY Catch up on the latest in streaming, interactivity, engagement and more from this inau...
01/05/2024
David Beckham Scores on the Cover of 'Queue' Issue 16
Back to All News David Beckham Scores on the Cover of Queue Issue 16 David Beckham on the cover of Queue. Krista Smith Director, Queue Entertainment 01 Ma...
01/05/2024
Haivision Celebrates 20 Years of Leadership and Innovation in Live Video
MONTREAL, CANADA - May 1, 2024 - Haivision Systems Inc. ( Haivision ) (TSX: HAI), a leading global provider of mission-critical, real-time video networking and ...
01/05/2024
MPTS. London. May 15-16, 2024
Wednesday, 15 May 11:35 The Gallows Pole - Creating a Workflow to Support the Creative Vision FilmLight sits down with the award-winning Residence Pictures t...