News Corp Reports Fourth Quarter and Full Year Results for Fiscal 2024

*Fourth quarter revenues were $2.58 billion, a 6% increase compared to $2.43 billion in the prior year, driven by growth at the Digital Real Estate Services, Book Publishing and Dow Jones segments
*Net income in the quarter was $71 million, a significant improvement compared to a net loss of $(32) million in the prior year
*Book Publishing revenues grew 15% in the quarter, while Segment EBITDA increased $41 million, driven by higher physical and digital book sales combined with improved return rates. Digital audiobooks revenue was larger than e-books revenue for the first time this quarter

Commenting on the results, Chief Executive Robert Thomson said: “Fiscal 2024 was an outstanding year for News Corp, as we not only delivered robust earnings growth and created substantial shareholder value, but took a significant step to prepare the Company to prosper in the AI age.

Our landmark agreement with OpenAI is not only expected to be lucrative, but will enable us to work closely with a trusted, pre-eminent partner to fashion a future for professional journalism and for provenance. Meanwhile, we have begun to take legal steps against AI aggressors, the egregious aggregators, who are predatory in the confiscation of our content. ‘Open source’ can never be a justification for ‘open slather.’
details at: https://newscorp.com/2024/08/08/news-corp-reports-fourth-quarter-and-full-year-results-for-fiscal-2024/

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