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News Corp Beats Q4 Revenue, Earnings Estimates
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TheWrap
News Corp beat Wall Street expectations for revenue and earnings in the fiscal fourth quarter, fueled by strong performances from its Digital Real Estate Services, Dow Jones and Book Publishing businesses.
Dow Jones revenue increased 7% to $644 million in the quarter, while Segment EBITDA rose 20% to $181 million.
The company said the gains were driven by higher circulation and subscription revenue, including higher content licensing revenue, a 5% increase in professional information business revenue led by an 11% increase in Risk & Compliance revenue, higher digital circulation revenue and 10% growth in digital advertising.
Digital revenue represented 84% of Dow Jones’ total revenue during the quarter.
Digital Real Estate Services revenue rose 19% to $553 million, driven by higher revenue at REA Group and Move.