News Corp Reports Second Quarter Results for Fiscal 2023

*Revenues in the quarter were $2.52 billion, a 7% decrease compared to $2.72 billion in the prior year, reflecting a $171 million, or 6%, negative impact from foreign currency fluctuations. Adjusted Revenues decreased 3%
*Net income in the quarter was $94 million compared to $262 million in the prior year
*Total Segment EBITDA in the quarter was $409 million compared to $586 million in the prior year
*In the quarter, reported EPS were $0.12 compared to $0.40 in the prior year – Adjusted EPS were $0.14 compared to $0.44 in the prior year

Commenting on the results, Chief Executive Robert Thomson said: “The second quarter highlighted the progress made in certain of our business segments. Obviously, a surge in interest rates and acute inflation had a tangible impact on all of our businesses. But we believe these challenges are more ephemeral than eternal. Just as our company passed the stress-test of the pandemic with record profits, the initiatives now underway, including an expected 5 percent headcount reduction, or around 1,250 positions this calendar year, will create a robust platform for future growth.

Even in the midst of the obvious global challenges, the professional information business at Dow Jones displayed particular promise, with revenues surging 45 percent year-over-year. That encouraging result highlights the value of our opportunistic acquisitions of OPIS and CMA, and continuing growth at our burgeoning Risk and Compliance business.

In terms of portfolio optimization, as publicly reported, we have been actively engaged in discussions with CoStar Group about a potential sale of Move. Any transaction would be designed to create shareholder value and strengthen Realtor.com®’s competitive position.”
details at: https://newscorp.com/2023/02/09/news-corp-reports-second-quarter-results-for-fiscal-2023/

Related Posts

Chairman Robert G. Taub Statement on the Postal Regulatory Commission’s 50th Anniversary

The Postal Regulatory Commission marks 50 years of public service in its mission to ensure transparency and accountability of one of our Nation’s most valued treasures rooted in the Constitution — the U.S. Postal Service. President Richard M. Nixon signed into law the Postal Reorganization Act of 1970 on August 12 of that year. This momentous legislation would transform the Post Office Department into a newly independent Postal Service the following year. Yet the law immediately created the Postal Rate Commission as the 1970 Act ended the role of the U.S. Congress in setting stamp prices. Later, with passage of the Postal Accountability & Enhancement Act of 2006, the agency was renamed the Postal Regulatory Commission as part of significantly expanding its responsibilities. For half a century, the Commission has been the regulatory anchor providing legal and economic oversight of the one agency that touches the lives of all Americans in every community nearly every day, at their homes and offices. Ever since Congress and President Nixon created it on August 12, 1970, the Commission has consistently conducted its work in an open and accessible way, with full transparency and an opportunity for robust input by the public. The agency's operations on behalf of its fellow citizens foster a vital and efficient universal mail system.

Retail group asks U.S. governors to mandate wearing face masks (chainstoreage.com)

The Retail Industry Leaders Association on Tuesday sent a letter to the National Governors Association in which it urged every governor to require customers to wear a mask when entering a retail store or other enclosed public space. The letter encourages uniform, statewide orders “to create clarity for businesses, customers and law enforcement,” noting that different rules around the country have made it confusing for shoppers and often lead to arguments between customers and store employees who trying to enforce company policies.

1-800-FLOWERS.COM, Inc. Reports Results for Its Fiscal 2018 Third Quarter

For the third quarter of 2018, total revenues increased 2.1 percent to $238.5 million compared with $233.7 million in the prior year period. On a comparable basis1 (adjusted for the sale of Fannie May Confection Brands, which closed on May 30, 2017) total revenues increased 10.2 percent. Comparable revenue growth was driven primarily by strong revenue growth of 8.9 percent in the Company’s Consumer Floral segment, combined with growth of 15.5 percent (adjusted for the sale of Fannie May) in the Company’s Gourmet Foods and Gift Baskets segment. Comparable revenue growth benefited from the shift of the Easter holiday into the period. Gross profit margin for the quarter was 39.2 percent, compared with 40.0 percent in the prior year period. Comparable gross profit margin for the prior year was 39.9 percent. Click Read More below for additional information.
Back To Top
×Close search
Search