The American media company News Corp in the fourth financial quarter (April-June 2022) received a net profit and increased revenue by 7.3%.
Its net income for the reporting period was $110 million, or 19 cents per share, compared to a net loss of $14 million, or 2 cents per share, a year earlier.
Revenue increased by 7.3% to $2.67 billion from $2.49 billion a year earlier.
Dow Jones division revenue, which includes WSJ, Barron’s and MarketWatch, increased by 26% to $565 million, EBITDA increased by 54% to $106 million.
WSJ digital subscribers grew 2% quarter-on-quarter to 3.1 million in the fourth quarter, including 3.75 million in print and 4.9 million in Dow Jones.
Revenue in the news media segment, which includes the Sun, New York Post and The Times newspapers, increased by 5.7% to $629 million, in the publishing business – also by 4% to $513 million.
The real estate digital services division increased revenue by 7.3% to $443 million, while its Pay TV revenue decreased by 3.3% to $524 million.