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News Corp Revenue Climbs on Real Estate and Publishing Growth

Published by

November 28, 2024
(GMT+2)

News Corp reported 3% revenue growth for the quarter that ended in March, fueled by encouraging foreign-exchange fluctuations including solid growth at the company’s digital real estate, book publishing and Dow Jones units. The New York-based media company, whose holdings include the Wall Street Journal and HarperCollins Publishers, flourished towards a profit of $79 million, or 13 cents a share, compared with a loss of $730 million, or $1.24 per share, in the year-earlier quarter, when the company took a large non cash impairment cost.News Corp’s total revenue climbed to $2.34 billion in the quarter, up from $2.27 billion a year earlier. Growth was partially offset by weakness in print advertising and the loss of contributions from the coupon-publishing unit the company sold last year. The company posted an increase of 23% in earnings before interest, depreciation, taxes and amortization, reflecting improved profitability at a few units.

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