News Corp (NWS) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 FY2025 rose 1% year-over-year to $2.01 billion, led by Dow Jones, Digital Real Estate Services, and Book Publishing.

• Net income from continuing operations increased 67% to $107 million, with EPS doubling to $0.14; adjusted EPS was $0.17, up from $0.13 last year.

• Sale of Foxtel to DAZN completed, transferring $724 million in debt off the balance sheet, repaying AUD 592 million in shareholder loans, and resulting in a 6% equity stake in DAZN.

• Total Segment EBITDA grew 12% to $290 million, with margin expanding from 13% to 14.4%.

• Segment performance was driven by growth in Dow Jones, Digital Real Estate Services, and Book Publishing.

Financial highlights

• Total revenues for the nine months ended March 31, 2025 were $6.34 billion, up 3% year-over-year.

• Net income attributable to stockholders for the nine months was $437 million, up from $216 million in the prior year period.

• Free cash flow for the nine months was $539 million, up from $475 million year-over-year.

• Net cash provided by operating activities from continuing operations was $789 million for the nine months, up from $721 million.

• Operating expenses decreased 4% for the quarter, primarily due to cost savings in News Media.

Outlook and guidance

• Management expects the Foxtel sale to increase return on invested capital and be accretive to EPS.

• Ongoing focus on digital growth, cost discipline, and maximizing shareholder returns.

• Management expects liquidity needs to be met for at least the next twelve months through cash on hand, operations, and available credit.

• The company continues to monitor macroeconomic volatility, inflation, and trade policy impacts on consumer demand.