Exhibit 99.1

 

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NEWS CORPORATION REPORTS FOURTH QUARTER AND

FULL YEAR RESULTS FOR FISCAL 2017

FISCAL 2017 FULL YEAR KEY FINANCIAL HIGHLIGHTS

 

    Revenues of $8.14 billion compared to $8.29 billion in the prior year

 

    (Loss) income from continuing operations was ($643) million compared to $235 million in the prior year. The loss includes approximately $1 billion of pre-tax non-cash impairments and write-downs and a one-time pre-tax gain of $107 million as a result of the sale of REA Group’s European business

 

    Total Segment EBITDA was $885 million compared to $684 million in the prior year; fiscal 2016 included the NAM Group settlement charge of $280 million and the $122 million gain from the Zillow settlement

 

    Strong growth in the Digital Real Estate Services segment, which represented 37% of Total Segment EBITDA, driven by strong audience gains and new product offerings

 

    Reported EPS were ($1.27) compared to $0.28 in the prior year – Adjusted EPS were $0.36 compared to $0.40 in the prior year

 

    Digital revenues represented 25% of News and Information Services segment revenues, compared to 22% in the prior year

NEW YORK, NY – August 10, 2017 –

News Corporation (“News Corp” or the “Company”) (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months and fiscal year ended June 30, 2017 (includes 13 and 52 weeks, respectively, compared to 14 and 53 weeks in the three months and fiscal year ended June 30, 2016, respectively).

Commenting on the results, Chief Executive Robert Thomson said:

“Fiscal 2017 was a significant year for News Corp as we saw tangible improvement in profitability, powered by the fast-growing Digital Real Estate Services segment, and we charged a premium for premium content while focusing on operating efficiencies.

News Corp led the global debate about content value and values, prompting the digital platforms to address a dysfunctional content eco-system, in which the fake and the fraudulent have flourished. We are now in advanced discussions with those platforms over the creation of payment mechanisms for news of verified veracity.

Move, the operator of realtor.com®, and REA Group continue to post record revenues driven by higher traffic and improved yields. Digital real estate overall accounted for nearly 40% of our profits and we expect to expand earnings in coming years as the sector is still at a relatively early stage of its e-evolution.

HarperCollins posted higher EBITDA and margins this year through poignant books with broad appeal in the U.S., such as The Magnolia Story and Hillbilly Elegy. We believe that the emergence of digital audio and our expanding global footprint are potent sources of long-term growth.

 

1


The following information was filed by News Corp (NWS) on Thursday, August 10, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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