News Corp Reports First Quarter Results for Fiscal 2016
Fiscal 2016 First Quarter Key Financial Highlights
- Revenues of $2.01 billion compared to $2.11 billion in the prior year
- Reported Total Segment EBITDA of $165 million compared to $194 million in the prior year
- Income from continuing operations was $143 million compared to $109 million in the prior year
- Reported EPS from continuing operations were $0.22 compared to $0.15 in the prior year
- Results from the Digital Education segment are reflected as discontinued operations
New York, NY – November 5, 2015 – News Corporation (“News Corp” or the “Company”) (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended September 30, 2015.
Commenting on the results, Chief Executive Robert Thomson said:
“News Corp is on track in its transition to a more digital and global future, having successfully integrated several recent acquisitions and built a powerful platform for future growth. We are focused on driving sustainable expansion of revenue and profit, and leveraging the potency of our brands, while diligently controlling costs to maximize long-term returns for all investors. Foreign exchange fluctuations negatively impacted reported results, but this should not obscure the progress at many of our businesses. In fact, News Corp’s revenues, excluding the effect of currency, grew 4% this quarter, underscoring the value of our shift to higher growth businesses and our prudent reinvestment strategy.
We are particularly pleased with the momentum at realtor.com?, which is significantly ahead of schedule on key metrics. We are now, by some reckoning, the world’s largest digital property listings company and we see a particularly bright future in the sector, especially in the U.S. where we believe the national real estate market is still returning to health.
Our digital expertise has been enhanced by the addition of Unruly and Checkout 51, which we expect will have a positive impact across our businesses and around the world. We are already seeing significant new opportunities because of Unruly’s unique skills in measuring the social and viral penetration of advertising campaigns. We are on the cusp of significant upheaval in the advertising market, which has been distorted by trash traffic, invisible impressions and mockable metrics, to the detriment of advertisers, large and small.
With recent M&A activity highlighting the rising value of global financial news brands, the progress at Dow Jones and The Wall Street Journal is noteworthy, with growth in print and digital advertising, and improvements in the professional information business.”
First Quarter from Continuing Operations
The Company reported fiscal 2016 first quarter total revenues of $2.01 billion, a 4% decline as compared to prior year first quarter revenues of $2.11 billion. Adjusted revenues (as defined in Note 1) declined 1% compared to the prior year, as strong growth in the Digital Real Estate Services segment from REA Group Limited (“REA Group”) was offset by lower advertising revenues at the News and Information Services segment. Fiscal 2016 first quarter reported revenues include $85 million from the acquisition of Move, Inc. (“Move”) in November 2014.
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, and cable network programming and pay-TV distribution in Australia. Headquartered in New York, the activities of News Corp are conducted primarily in the United States, Australia, and the United Kingdom. More information: http://www.www.5kungan.com.
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