News Corp (NWS) investor relations material

Executive summary

• Fourth quarter revenues rose 11% year-over-year to $2.34 billion, with net income from continuing operations up 167% to $230 million and Total Segment EBITDA up 31% to $423 million.

• Reported Q4 EPS was $0.33, adjusted EPS $0.35; full-year diluted EPS from continuing operations was $1.03, adjusted diluted EPS $1.18.

• Fiscal 2026 full year revenues increased 7% to $9.03 billion, Total Segment EBITDA rose 15% to $1.63 billion, and free cash flow increased 42% to $811 million.

• Digital revenues now comprise 61% of total, reflecting transformation to a digital-first model.

• Core growth engines—Digital Real Estate Services, Dow Jones, and Book Publishing—were key contributors to record profitability.

Financial highlights

• Q4 revenue: $2.34 billion (+11% YoY); Total Segment EBITDA: $423 million (+31% YoY); Q4 adjusted revenues up 7% YoY, adjusted EBITDA up 25%.

• Net income: $230 million (+167% YoY); reported EPS: $0.33 (vs. $0.09 prior year); adjusted EPS: $0.35 (vs. $0.19 prior year).

• Full-year revenue: $9.03 billion (+7% YoY); Total Segment EBITDA: $1.63 billion (+15% YoY); margin rose from 16.7% to 18%.

• Free cash flow: $811 million (+42% YoY), representing 50% EBITDA conversion; operating cash flow for the year increased 26% to $1.24 billion.

• Share buybacks accelerated to $643 million, over four times prior year.

Outlook and guidance

• Expect continued strong revenue and margin expansion at Dow Jones, with B2B revenues and energy segment growth anticipated.

• Digital Real Estate Services faces short-term headwinds from higher mortgage rates but expects ongoing revenue improvements.

• Book Publishing to benefit from a strong frontlist and easier comps; News Media to incur incremental costs but gain from new content licensing.

• Free cash flow generation remains a focus, with seasonality favoring the second half.

• Management highlighted ongoing transformation to a digital-first company and expects continued growth from core segments.