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News Corp (NWS) SEC Filing 10-Q Quarterly report for the period ending Thursday, December 31, 2020

News Corp

CIK: 1564708 Ticker: NWS
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Exhibit 99.1
NEWS CORPORATION REPORTS SECOND QUARTER RESULTS FOR FISCAL 2021
FISCAL 2021 SECOND QUARTER KEY FINANCIAL HIGHLIGHTS

Revenues were $2.41 billion, a 3% decline compared to $2.48 billion in the prior year – Adjusted Revenues increased 2% compared to the prior year
Net income of $261 million compared to $103 million in the prior year
Total Segment EBITDA was $497 million compared to $355 million in the prior year
Reported diluted EPS were $0.39 compared to $0.14 in the prior year – Adjusted EPS were $0.34 compared to $0.18 in the prior year
Book Publishing Segment EBITDA increased 65% compared to the prior year, driven by strong revenue growth across every category
Move, operator of realtor.com®, reported 28% revenue growth and was a key driver of Segment EBITDA growth at the Digital Real Estate Services segment
Dow Jones reported 43% Segment EBITDA growth, driven by record digital advertising revenues and continued growth in digital subscriptions
Subscription Video Services Segment EBITDA grew 77% as Foxtel benefited from lower costs while reaching a record of more than 1.3 million paying OTT subscribers as of the quarter end

NEW YORK, NY – February 4, 2021 –
News Corporation (“News Corp” or the “Company”) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December 31, 2020.
Commenting on the results, Chief Executive Robert Thomson said:

“The second quarter of fiscal 2021 was the most profitable quarter since the new News Corp was launched more than seven years ago, reflecting the ongoing digital transformation of the business. We reported the largest profits for Dow Jones since the acquisition of the company in 2007, with Segment EBITDA increasing 43 percent and traffic across the Dow Jones digital network surging 48 percent.

There was also a 77 percent rise in Segment EBITDA at the Subscription Video Services segment, where the exponential evolution at Foxtel continued apace, with streaming customers increasing over 90 percent, rights costs reset and audiences for summer sports at unprecedented levels.

Rapid expansion continued at Move, which accounted for about 80 percent of Segment EBITDA growth in the Digital Real Estate Services segment, while revenue grew 28 percent compared to a year earlier. Realtor.com®’s traffic growth has now outpaced that of Zillow for the last 11 months in a row, according to Comscore, and monthly average unique users were 37 percent higher during the quarter compared to the prior year.

In the Book Publishing segment, HarperCollins’ revenues rose 23 percent, with double digit growth across every category, and a 65 percent burgeoning of Segment EBITDA. And history was also made at the New York Post, which reported its first profit in modern times a notable feat for what had been a chronic loss-making masthead founded in 1801 by Alexander Hamilton.”


SECOND QUARTER RESULTS

The Company reported fiscal 2021 second quarter total revenues of $2.41 billion, 3% lower compared to $2.48 billion in the prior year period. The decline was mainly due to lower revenues at the News Media segment, primarily driven by a $191 million, or 8%, negative impact from the divestiture of News America Marketing, weakness in the print advertising market, and a $34 million, or 1%, negative impact from the closure or transition to digital of certain regional and community newspapers in Australia. The decline was partially offset by growth in the Book Publishing, Digital Real Estate Services and Dow Jones segments, as well as a $75 million, or 3%,
1

The following information was filed by News Corp (NWS) on Thursday, February 4, 2021 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 (Loss) Income (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Acquisitions
Acquisitions - Additional Information (Detail)
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 - Narrative (Details)
Borrowings - Schedule Of Borrowings (Detail)
Commitment And Contingencies (Tables)
Commitments And Contingencies
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)
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)
Restructuring Programs
Restructuring Programs (Tables)
Restructuring Programs - Additional Information (Detail)
Restructuring Programs - Schedule Of Changes In Restructuring Program Liabilities (Detail)
Revenues
Revenues (Tables)
Revenues - Revenue Remaining Performance Obligation (Details)
Revenues - Summary Of Deferred Revenue From Contract With Customers (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)

Material Contracts, Statements, Certifications & more

News Corp provided additional information to their SEC Filing as exhibits

Ticker: NWS
CIK: 1564708
Form Type: 10-Q Quarterly Report
Accession Number: 0001564708-21-000004
Submitted to the SEC: Fri Feb 05 2021 7:10:54 AM EST
Accepted by the SEC: Fri Feb 05 2021
Period: Thursday, December 31, 2020
Industry: Newspapers Publishing Or Publishing And Printing

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