News Corporation (NASDAQ: NWS, NWSA), a diversified media and information services company, has reported an increase in revenues and profit for the fourth quarter of 2024.
- Fourth quarter revenues were $2.58 billion, a 6% increase compared to $2.43 billion in the prior year quarter
- Q4 net income came in at $71 million, a significant improvement compared to a net loss of $32 million last year
- On a per share basis, Q4 earnings were $0.09, compared to a loss of $0.01 in the in Q4 2023
- Adjusted earnings increased to $0.17per share in Q4 from $0.14 in the same period last year
- Total segment EBITDA was $380 million in the June quarter, compared to $341 million a year earlier
- Book Publishing revenues grew 15% in the quarter, while segment EBITDA increased by $41 million
- REA Group revenues came in at $305 million, a 37% increase compared to the prior year
- During the quarter, the company announced a landmark multi-year global partnership with OpenAI