News Corp Q2 revenue falls 7% to $2.52B, net income $94M; 1,250 job cuts planned

NEWS CORP

2023-Q2 EPS reported $0.18 revenue$4,999,000,000

Revenue $2.52B, down 7% YoY; net income $94M vs $262M; reported EPS $0.12 vs $0.40.
Total Segment EBITDA $409M, down 30% from $586M; adjusted EPS $0.14 vs $0.44.
Plans to cut ~1,250 positions (5% of workforce) in calendar 2023 to reduce costs.
Dow Jones professional information revenue up 45% from OPIS/CMA acquisitions; Book Publishing down 14%.
Engaged in discussions with CoStar Group about potential sale of Move (Realtor.com).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NEWS CORP reported the quarter ended December 31, 2022 results: revenue $2.52 billion, net income $94 million, EPS reported EPS were $0.12 compared to $0.40 in the prior year.

Period: the quarter ended December 31, 2022
Revenue: $2.52 billion
Net income: $94 million
EPS: reported EPS were $0.12 compared to $0.40 in the prior year
Result: reported results

Exact text from the filing

--- EX-99.1 (EX-99.1) --- NEWS CORPORATION REPORTS SECOND QUARTER RESULTS FOR FISCAL 2023 FISCAL 2023 SECOND QUARTER KEY FINANCIAL HIGHLIGHTS • 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% •

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Source: SEC EDGAR

accession 0001564708-23-000011

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