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

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News Corp

CIK: 1564708 Ticker: NWS
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Exhibit 99.1
NEWS CORPORATION REPORTS SECOND QUARTER RESULTS FOR FISCAL 2022
FISCAL 2022 SECOND QUARTER AND FIRST HALF KEY FINANCIAL HIGHLIGHTS

Revenues in the quarter were $2.72 billion, a 13% increase compared to $2.41 billion in the prior year and the highest quarterly revenue since separation. Revenues in the first half rose 15% year-over-year
Net income in the quarter was $262 million, flat compared to $261 million in the prior year. Net income in the first half rose 72% year-over-year
Total Segment EBITDA in the quarter was $586 million, an 18% increase compared to $497 million in the prior year. Total Segment EBITDA in the first half rose 30% year-over-year
In the quarter, Reported EPS were $0.40 compared to $0.39 in the prior year – Adjusted EPS were $0.44 compared to $0.34 in the prior year. In the first half, Reported diluted EPS were $0.72 and Adjusted EPS were $0.67
Digital Real Estate Services segment revenues grew 35% in the quarter, with continued traffic gains at Move, operator of realtor.com®, and strong listing volumes at REA Group
Dow Jones again saw its highest quarterly profitability since its acquisition and highest revenue since fiscal 2011
As of the end of December, Foxtel’s total streaming subscribers grew 66% compared to the prior year with BINGE and Kayo each reaching more than 1 million total subscribers
News Media Segment EBITDA in the quarter grew 68% as the businesses continued to benefit from the rebound in the advertising market, new content licensing revenues and strong digital subscriber gains

NEW YORK, NY – February 3, 2022 –
News Corporation (“News Corp” or the “Company”) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) today reported financial results for the three months ended December 31, 2021.

Commenting on the results, Chief Executive Robert Thomson said:

“For the first half of fiscal year 2022, News Corp’s profitability reached nearly $1 billion, up 30% year-over-year, with the second quarter delivering record revenues and the highest profit of any quarter since the company was formed in 2013.

Our businesses are thriving, particularly at the Digital Real Estate Services, Dow Jones and Book Publishing segments, and there was a pronounced surge in profitability at our News Media segment. Meanwhile, Foxtel’s streaming products flourished, with a 66 percent increase in total customers, and Kayo and BINGE both exceeding one million.

We are delighted with our planned acquisitions of the OPIS and Base Chemicals businesses, which we expect will close in the first half of calendar 2022 and bolster the highly profitable Dow Jones Professional Information Business.

The landmark agreements with Big Tech continued to benefit our journalism and our bottom line. In addition to the substantial deals with Google and Facebook, we expanded our multi-year global agreement with Apple, which is expected to be an important source of subscriptions and of advertising revenue for our news sites around the world.

Our increasing momentum has given us the ability to make opportunistic acquisitions and further our $1 billion share buyback program. News Corp is clearly going from strength to strength.”


1

The following information was filed by News Corp (NWS) on Thursday, February 3, 2022 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
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 (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: 0001564708-22-000051
Submitted to the SEC: Fri Feb 04 2022 7:35:45 AM EST
Accepted by the SEC: Fri Feb 04 2022
Period: Friday, December 31, 2021
Industry: Newspapers Publishing Or Publishing And Printing

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