News Corp: Q4 EPS slumps

(CercleFinance.com) - On Thursday evening News Corp, the parent company of Dow Jones, HarperCollins and Foxtel amongst others, reported adjusted EPS of 14 cents for Q4 2022-23, from 37 cents for Q4 the previous year.


Segment EBITDA rose by 8% to $341m, mainly thanks to cost savings that were particularly linked to layoffs, as well as a favourable comparison basis due to a litigation settlement charge a year earlier.

At $2.43bn, revenues were down 7% on an adjusted basis (excluding calendar, scope and currency effects), penalised by lower contributions from the book publishing and digital real estate services segments.

News Corp posted FY adjusted EPS of $0.49, compared with $1.20 in 2021-22, and segment EBITDA that fell 15% to $1.42bn, on revenues that were down 2% on an adjusted basis to $9.88bn.


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