(Tiper Stock Exchange) – News Corpa media conglomerate founded by Rupert Murdoch, reported a sales equal to 2.43 billion dollars in fourth quarter of fiscal 2023 (ended June 30), down 9% from $2.67 billion in the prior year period. There net loss was $32 million, compared to a year prior’s net income of $127 million. L’Adjusted EPS it was $0.14, compared to $0.37 a year ago and $0.08 expected by analysts.
The company reported total revenues for thefiscal year 2023 of $9.88 billion, down 5% from $10.39 billion a year earlier. Net income for the full year was $187 million, down 75% from $760 million a year earlier. Adjusted earnings per share were $0.49, compared to $1.20 a year ago.
“For the first time, digital accounted for more than 50% of revenues of News Corp for the full year, marking a profound transformation in the last decade – commented the CEO Robert Thomson “This momentum is certainly gaining momentum in the era of generative AI, which we believe presents a tremendous opportunity to create a new revenue stream while enabling us to reduce costs across the business. We are already in active talks to establish a value for our unique content sets and IPs that will play a crucial role in the future of AI.”
“Dow Jones posted its highest profitability for both the quarter and the full year since we acquired the company, thanks in particular to the remarkable results obtained in the flourishing professional information sector – he added – Not only has Dow Jones doubled its profitability in the last four years, but it is also approaching a historic moment with the our lucrative B2B offerings which are expected to be the largest contributor to profitability in fiscal 2024 and a key driver of future growth.”
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