News Corp Reports Revenue Growth

News Corp, the parent company of the Post, reported a 5.5% increase in revenue, reaching $2.36 billion for the fiscal second quarter. The company’s growth was attributed to its Dow Jones division and digital real estate services.

The revenue for the quarter that ended on December 31 slightly outperformed analyst predictions. EBITDA rose by 9%, hitting $521 million.

Robert Thomson, the CEO of News Corp, expressed satisfaction with the results, stating, “We are pleased to report an excellent second quarter result, with revenue and profitability growth accelerating from the previous quarter. We are seeing positive signs for the second half of the financial year.”

Dow Jones, known for publications like the Wall Street Journal and MarketWatch, was singled out for contributing to the quarter’s success. Its revenue grew by 8% from the previous year, totaling $648 million.

In a similar fashion, revenue from News Corp’s digital real estate services climbed 8%, reaching $511 million.

These encouraging results come amid challenges faced by news organizations and publishers regarding artificial intelligence.

Thomson has consistently urged AI companies to compensate for the content they utilize, a point he reiterated recently. He remarked, “It is clear that expectations for the impact of AI continue to evolve, and that more sensitive players are recognizing that provenance is paramount. What is the point of acquiring cutting-edge semiconductors if they are being deployed to reuse inaccurate, untrue, and reckless content sets?”

He added, “We believe there are a growing number of savvy companies who understand this content contradiction and will certainly pay a premium for our premium content. This quarter, we are expanding our partnership with Bloomberg and advancing other negotiations, including AI rights to our proprietary Dow Jones content.”