New Corporation beat estimates for revenue in its first fiscal quarter, according to the latest earnings report from the media giant.
Dow Jones was leading the charge for profitability, with revenue up by 6%, while its digital real estate services unit was right behind with a growth of 5% for the quarter.
Dow Jones is the division that houses Barron's and the Wall Street Journal, among other mastheads, making it News Corp's most profitable sector.
The overall revenue boost for the quarter, which came in at US$2.14 billion and was up 2% Y-O-Y, was boosted by a shift towards digital and subscription-based models.
On an adjusted basis, earnings per share landed at 22 cents, higher than the 19 cents expected by analysts.
News Corp, part of media mogul Rupert Murdoch's empire, has pivoted toward digital and subscription-based revenue models, aiming to enhance its competitiveness and adapt to a fast-changing news landscape.
“Following a sterling performance in fiscal 2025 one that marked a record year for profitability on a continuing operations basis – News Corp continued to increase both revenue and profitability in the first quarter of fiscal 2026,” said News Corp CEO Robert Thompson in the earnings report.
“Clearly, our current cash position is robust, and we expect to generate strong free cash flow this fiscal year, and have thus materially increased the rate of our share buybacks.”
At the time of writing, New Corporation (NASDAQ: NWS) stock was trading at US$28.48, down 2.5% from Wednesday's close of $29.20. New Corporation's market cap stands at $14.78 billion.
