News Corp beats quarterly estimates on Dow Jones, digital real estate services segments growth

Reuters

Thu, May 8, 2025, 3:49 PM 1 min read

(Reuters) -News Corp bushed Wall Street estimates for third-quarter gross and nett connected Thursday, driven by maturation successful its Dow Jones concern and online existent property services, sending its shares up astir 3% successful extended trading.

The institution has shifted its absorption towards integer and subscription-based operations to amended vie successful and accommodate to the evolving scenery of quality depletion crossed assorted integer platforms and formats.

"We person pursued integer growth, realigned our assets, focused relentlessly connected outgo subject and asserted the indispensable worth of our intelligence spot successful a changing, challenging contented world," said Chief Executive Officer Robert Thomson.

Dow Jones, which contributes the largest stock of gross and includes publications specified arsenic the Wall Street Journal, Barron's and Market Watch, generated $575 cardinal for the 4th ended March 31.

Revenue from integer existent property services grew 5% to $406 cardinal successful the quarter.

News Corp's integer existent property conception comprises REA Group and Move, which is the genitor of the starring existent property listing company, realtor.com.

Revenue from News Corp's quality media portion fell 8% successful the quarter. It, however, reported a 2% emergence successful its publication publishing portion — which consists of HarperCollins — benefiting from beardown backlist and higher downloadable audiobook sales.

News Corp's gross for the 4th stood astatine $2.01 billion, compared with analysts' mean estimation of $2 billion, according to information compiled by LSEG.

On an adjusted basis, the institution reported per-share net of 17 cents for the 3rd quarter, beating estimates of 14 cents.

(Reporting by Kritika Lamba successful Bengaluru; Editing by Mohammed Safi Shamsi)