News Corp: Q3 EPS down 44%

(CercleFinance.com) - On Thursday evening News Corp, the parent company of Dow Jones, HarperCollins and Foxtel, amongst other brands, reported adjusted EPS of 9 cents for Q3 2022-23, down from 16 cents for the same period last year.


EBITDA for segments fell 11% to $320m, driven by higher costs in the Dow Jones segment, with revenues down 2% to $2.45bn, hurt by negative currency effects.

However, News Corp said that it was on track to achieve at least $160m in annualised savings from previously announced headcount reductions, which is higher than its previous estimate.


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