News Corp Reports Second Quarter Results for Fiscal 2016
Fiscal 2016 Second Quarter Key Financial Highlights
- Revenues of $2.16 billion compared to $2.26 billion in the prior year; Excluding the impact from foreign currency fluctuations, revenues increased 2%
- Reported Total Segment EBITDA of $280 million compared to $352 million in the prior year
- Adjusted EPS were $0.20 compared to $0.30 in the prior year – Reported EPS from continuing operations were $0.15 compared to $0.27 in the prior year
- Digital Real Estate Services revenues grew 35%, highlighted by robust traffic at the newly integrated realtor.com?
New York, NY – February 4, 2016 – News Corporation (“News Corp” or the “Company”) (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December 31, 2015.
Commenting on the results, Chief Executive Robert Thomson said:
“News Corp is evolving rapidly into a more digital and increasingly global company with a diverse revenue mix that we believe will drive long-term growth in profits and shareholder returns. The company is, by most measures, the world’s largest player in digital real estate, a position certainly enhanced by the rapid growth in the U.S. of realtor.com?.
In our News and Information Services segment, print advertising remained challenged, but we are seeing growth in digital advertising and circulation revenues. We are particularly focused on cost reductions and sharing services around News Corp to streamline operations at the newspapers in Australia and the U.K.
Unruly, the viral digital advertising company acquired late last year, has been swiftly integrated into many of our companies, bringing cutting-edge metrics and a savvy social sensibility. We are developing advertising products for clients keen to benefit from the rise of video and mobile, and taking advantage of our world-class mastheads which are increasingly powerful platforms, editorially and commercially.
Macro-economic conditions in most of our markets have not been auspicious, and foreign exchange fluctuations have been particularly volatile, but we believe in the enduring value of our prestigious brands and the sound logic of our digital strategy.”
Second Quarter Results from Continuing Operations
The Company reported fiscal 2016 second quarter total revenues of $2.16 billion, a 4% decline as compared to prior year second quarter revenues of $2.26 billion. The decline in total reported revenues includes a negative impact from foreign currency fluctuations of $141 million. Adjusted revenues (as defined in Note 1) declined 1% compared to the prior year, as strong growth in the Digital Real Estate Services segment was offset by lower advertising revenues at the News and Information Services segment and lower consumer revenues at the Book Publishing segment. Fiscal 2016 second quarter reported revenues include $87 million of revenues 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.chicfaced.com.
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