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News Corp (NWS) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

News Corp

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

Revenues were $2.34 billion, a 3% increase compared to $2.27 billion in the prior year, driven by the continued strong momentum across our key growth pillars
Net income of $96 million compared to a net loss of $(1) billion in the prior year, which included non-cash impairment charges of $1.1 billion
Total Segment EBITDA was $298 million compared to $242 million in the prior year
Reported EPS were $0.13 compared to $(1.24) in the prior year – Adjusted EPS were $0.09 compared to $0.03 in the prior year
Move, operator of realtor.com®, reported 37% revenue growth, with traffic reaching a record 108 million unique users in March, and was again a key driver of Segment EBITDA growth at the Digital Real Estate Services segment
Dow Jones Segment EBITDA increased 61%, with another strong increase in digital advertising revenues, record digital subscriptions, and continued robust growth at Risk & Compliance
Book Publishing Segment EBITDA increased 45%, benefiting from the success of numerous backlist titles, including the Bridgerton series
Reached multi-year partnership agreements with Google and Facebook for news content
Recently completed the acquisition of Investor’s Business Daily and announced the planned acquisitions of Houghton Mifflin Harcourt’s Books and Media segment and Mortgage Choice


NEW YORK, NY – May 6, 2021 –
News Corporation (“News Corp” or the “Company”) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended March 31, 2021.
Commenting on the results, Chief Executive Robert Thomson said:

“The financial year is on a trajectory to be the most profitable since our reincarnation in 2013. This highlights the transformed character of the Company, with improved revenue performance and a 23 percent increase in profitability in the third quarter.

The results vindicate the strategy of simplifying the asset mix, vigorously pursuing digitization, slimming the cost base, and investing in three growth areas — Digital Real Estate Services, Dow Jones and Book Publishing — which collectively generated 55 percent Segment EBITDA growth in the third quarter.

Move, operator of realtor.com®, flourished, with 37 percent revenue growth, and more than 100 million unique users in March, a 60 percent increase on a year earlier. At Dow Jones, digital revenues reached 74 percent of the total, with digital advertising growing by a robust 30 percent and The Wall Street Journal subscriptions setting record after record. And at Book Publishing, revenues rose 19 percent, thanks to a valuable backlist and faster digital growth.

Foxtel’s resurgence during the pandemic reflected the enduring value of its broadcast offering, the rapid growth of streaming services, and a relentless focus on costs, all of which contributed to a 34 percent surge in Segment EBITDA.

We have reached historic deals with Google and Facebook, and continue our international campaign to reset the terms of trade for premium journalism. The cooperation in recent weeks with the Google team has certainly been productive and we look forward to further engagement with Facebook. These landmark agreements have meaningfully and materially changed the media landscape.

1

The following information was filed by News Corp (NWS) on Thursday, May 6, 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)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (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)
Ticker: NWS
CIK: 1564708
Form Type: 10-Q Quarterly Report
Accession Number: 0001564708-21-000023
Submitted to the SEC: Fri May 07 2021 6:56:52 AM EST
Accepted by the SEC: Fri May 07 2021
Period: Wednesday, March 31, 2021
Industry: Newspapers Publishing Or Publishing And Printing

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