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News Corp (NWS) SEC Filing 10-Q Quarterly report for the period ending Tuesday, December 31, 2019

News Corp

CIK: 1564708 Ticker: NWS

Exhibit 99.1

 

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NEWS CORPORATION REPORTS SECOND QUARTER RESULTS FOR FISCAL 2020

FISCAL 2020 SECOND QUARTER KEY FINANCIAL HIGHLIGHTS

 

   

Revenues were $2.48 billion, a 6% decline compared to $2.63 billion in the prior year

 

   

Net income was $103 million compared to $119 million in the prior year

 

   

Total Segment EBITDA was $355 million compared to $370 million in the prior year

 

   

Reported diluted EPS were $0.14 compared to $0.16 in the prior year – Adjusted EPS were $0.18, flat with the prior year

 

   

Completed the sale of Unruly to Tremor International in January

 

   

Dow Jones results reflected 17% growth in digital-only subscribers, continued strength in Risk and Compliance

 

   

News UK saw growth in advertising revenues and contributed to strong Segment EBITDA growth at the News and Information Services segment

 

   

Profitability contribution from Move, operator of realtor.com®, increased while the referral model continues to show promising signs with improvement in close rates and other key metrics

NEW YORK, NY – February 6, 2020 – News Corporation (“News Corp” or the “Company”) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December 31, 2019.

Commenting on the results, Chief Executive Robert Thomson said:

“In the second quarter of Fiscal 2020, News Corp saw growth at several of our news businesses and an increased profit contribution from Move, operator of realtor.com®. The results were affected by a sluggish Australian economy, uncharacteristic softness in book publishing, and foreign exchange fluctuations. We expect improvement in the second half as real estate markets show signs of gradual recovery, Dow Jones benefits from new content licensing arrangements and higher digital subscribers, and HarperCollins capitalizes on an exciting slate of new releases.

Our News and Information Services segment posted notably higher profitability driven by a strong increase at News UK as well as continued growth at Dow Jones, where consumer subscriptions recently reached a record 3.5 million, including two million digital-only subscribers at The Wall Street Journal. I would particularly like to highlight the Risk and Compliance business, which is flourishing, with over 20 percent revenue growth for the twelfth consecutive quarter. Client companies are wisely seeking to minimize risk and maximize compliance.

We are seeing significant progress in our long battle for equitable treatment from the dominant tech platforms, and our deals with Apple and Facebook are beginning to yield financial dividends. The Company took important steps on the path toward simplification with the sale of Unruly, the ad tech business, while we are engaged in negotiations for the sale of News America Marketing. We believe that increasing investor focus on the core growth sectors, whether Risk and Compliance or Digital Real Estate, will be to the advantage of our shareholders.”

 

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The following information was filed by News Corp (NWS) on Thursday, February 6, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside News Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Operations
Additional Financial Information
Additional Financial Information (Tables)
Additional Financial Information - Components Of Other Current Liabilities (Detail)
Additional Financial Information - Components Of Other Non-Current Assets (Detail)
Additional Financial Information - Components Of Other, Net Included In Statement Of Operations (Detail)
Additional Financial Information - Components Of Receivables, Net (Detail)
Additional Financial Information - Summary Of Supplemental Cash Flow Information (Detail)
Borrowings
Borrowings (Tables)
Borrowings - Additional Information (Detail)
Borrowings - Schedule Of Borrowings (Detail)
Borrowings - Schedule Of Borrowings (Parenthetical) (Detail)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies - Schedule Of Commitments By Fiscal Year Maturity (Detail)
Description Of Business And Basis Of Presentation
Description Of Business And Basis Of Presentation (Detail)
Description Of Business And Basis Of Presentation (Policies)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Tables)
Earnings (Loss) Per Share - Computation Of Basic And Diluted Earnings (Loss) Per Share (Detail)
Equity
Equity (Tables)
Equity - Additional Information (Detail)
Equity - Summary Of Changes In Equity (Detail)
Financial Instruments And Fair Value Measurements
Financial Instruments And Fair Value Measurements (Tables)
Financial Instruments And Fair Value Measurements - Additional Information (Detail)
Financial Instruments And Fair Value Measurements - Schedule Of Fair Value Hedging Relationship By Balance Sheet (Detail)
Financial Instruments And Fair Value Measurements - Summary Of Assets And Liabilities Measured At Fair Value On Recurring Basis (Detail)
Financial Instruments And Fair Value Measurements - Summary Of Derivative Instruments Designated As Cash Flow Hedges (Detail)
Financial Instruments And Fair Value Measurements - Summary Of Equity Securities Classified As Level 3 (Detail)
Financial Instruments And Fair Value Measurements - Summary Of Hedges Classified As Current Or Non-Current In Balance Sheets Based On Maturity Dates (Detail)
Financial Instruments And Fair Value Measurements - Summary Of Mandatorily Redeemable Noncontrolling Interest Liabilities Classified Level 3 (Detail)
Financial Instruments And Fair Value Measurements - Summary Of Mandatorily Redeemable Noncontrolling Interest Liabilities Classified Level 3 (Parenthetical) (Detail)
Impairment And Restructuring Charges
Impairment And Restructuring Charges (Tables)
Impairment And Restructuring Charges - Additional Information (Detail)
Impairment And Restructuring Charges - Schedule Of Changes In Restructuring Program Liabilities (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Investments
Investments (Tables)
Investments - Additional Information (Detail)
Investments - Schedule Of Investments (Detail)
Investments - Schedule Of Total Gains And Losses On Equity Securities (Detail)
Leases
Leases (Tables)
Leases - Additional Information (Detail)
Leases - Schedule Of Additional Information Related To Operating Lease (Detail)
Leases - Schedule Of Future Minimum Lease Payments Under Non-Cancellable Leases (Detail)
Leases - Schedule Of Total Lease Cost For Operating Leases (Detail)
Revenues
Revenues (Tables)
Revenues - Additional Information (Detail)
Revenues - Practical Expedients And Other Revenue Disclosures (Detail)
Revenues - Summary Of Deferred Revenue From Contract With Customers (Detail)
Revenues - Summary Of Deferred Revenue From Contract With Customers (Parenthetical) (Detail)
Revenues - Summary Of Disaggregated Revenue By Type And By Segment (Detail)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Detail)
Segment Information - Reconciliation Of Assets From Segments To Consolidated (Detail)
Segment Information - Reconciliation Of Goodwill And Intangible Assets From Segments To Consolidated (Detail)
Segment Information - Reconciliation Of Revenue And Segment Ebitda From Segments To Consolidated (Detail)
Subsequent Events
Subsequent Events- Additional Information (Detail)
Ticker: NWS
CIK: 1564708
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-20-027351
Submitted to the SEC: Fri Feb 07 2020 7:06:56 AM EST
Accepted by the SEC: Fri Feb 07 2020
Period: Tuesday, December 31, 2019
Industry: Newspapers Publishing Or Publishing And Printing

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