Q4 2024 News Corp Earnings Call Transcript
Key Points
- News Corp (NWS) reported a 6% increase in fourth-quarter revenues to almost $2.6 billion.
- Profitability improved by 11% to $380 million, marking a fourth-quarter record for the company.
- Digital real estate services saw a strong quarter with revenues rising 21% and segment EBITDA surging 25%.
- Dow Jones experienced a 4% revenue growth, with digital revenue accounting for 80% of fiscal 2024 segment revenue.
- HarperCollins reported a significant 250% increase in segment EBITDA to $57 million, driven by strong sales in various formats.
- High interest rates negatively impacted some of News Corp (NWS)'s businesses.
- News Media segment faced challenges with a 5% decline in revenues and a 38% drop in segment EBITDA.
- Move's revenues for the quarter were down 2% compared to the prior year, reflecting broader macro trends and lower transaction volumes.
- Subscription video services saw a 10% year-over-year decline in residential broadcast subscribers.
- Print advertising at Dow Jones continued to decline, down 13% year-over-year.
Welcome to News Corp's fourth quarter and full year fiscal 2024 earnings conference call. Today's conference is being recorded. (Operator Instructions)
At this time, I would like to turn the conference over to Michael Florin, Senior Vice President and Head of Investor Relations. Please go ahead.
Thank you very much, operator. Hello, everyone, and welcome to News Corp's fiscal fourth-quarter 2024 earnings call. We issued our earnings press release about 30 minutes ago, and it's now posted on our website at newscorp.com.
On the call today are Robert Thomson, Chief Executive; and Susan Panuccio, Chief Financial Officer. We will open with some prepared remarks, and then we'll be happy to take questions from the investment community.
This call may include certain forward-looking information with respect to News Corp's business and strategy. Actual results could differ materially from what is said. News Corp's Form 10-K and Form 10-Q filings identify risks and
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