News Corp (NWS) Q3 2026 earnings summary

Executive summary

• Achieved 12th consecutive quarter of profitability growth from continuing operations, with third quarter revenue up 9% to $2.19 billion and segment EBITDA up 18% to $343 million year-over-year, driven by Digital Real Estate Services, Dow Jones, and Book Publishing.

• Net income from continuing operations rose 13% to $121 million for the quarter, with EPS at $0.16 and adjusted EPS at $0.21, both higher than the prior year.

• Robust free cash flow and strong cash position enabled accelerated share buybacks, with $193 million repurchased in Q3 and $459 million year-to-date.

• Strategic focus on Dow Jones, Digital Real Estate Services, and Book Publishing, all delivering double-digit profit growth.

• Ongoing transformation to a digital-first, diversified business model with recurring high-margin content licensing revenues and continued share buybacks.

Financial highlights

• Total revenue for the quarter was $2.19 billion, up 9% year-over-year; adjusted revenue up 4%.

• Total segment EBITDA rose 18% to $343 million; adjusted segment EBITDA up 13%.

• Margins expanded by 130 basis points to 15.7%; operating margin for the quarter was 16%.

• Earnings from continuing operations were $0.16 per share; adjusted EPS $0.21.

• Free cash flow for the nine months was $535 million, slightly down from $539 million year-over-year due to higher capital expenditures.

Outlook and guidance

• Management expects record profitability for the fiscal year, citing strong Q4 performance to date.

• Strong free cash flow growth expected for the fiscal year despite higher capital expenditures.

• Digital Real Estate Services in Australia to benefit from higher new buy listings and lower operating cost growth.

• Ongoing discussions for additional AI-related licensing deals expected to positively impact revenue and profitability.

• News Media to incur incremental costs from California Post launch but should benefit from new content licensing revenues.