News Corporation · NWS · FY2024 Q3 · Calendar Q2 2024

News Corp: Digital momentum offsets advertising and housing pressure

The supplied analysis supports a cautiously constructive view of News Corp's digital transition: recurring and subscription-oriented businesses appear to be carrying growth, while advertising, housing, traditional media, and streaming execution remain material tests.

Reported After market closeNASDAQCommunication Services $18.19B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.11 Consensus $0.11
EPS surprise -2.5% Reported versus consensus
Reported revenue $2.42B Consensus $2.45B
Revenue surprise -1.3% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +2.8% Event window
SPY move +0.6% Same window
Abnormal move +2.2% Stock minus SPY
Volume 1.8× Versus trailing sessions
Subsequent drift +8.4% Up to 20 sessions
NWSSPY benchmark

Ask FN2 about NWS FY2024 Q3

Transcript, numbers and history already loaded
Why did NWS rise 2.8% after missing EPS estimates in FY2024 Q3?What changed in NWS's guidance and outlook in FY2024 Q3?Give me the bull and bear case for NWS after FY2024 Q3 earnings.

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Transcript intelligence

What changed

Relative to the prior-quarter analysis, the call added emphasis on the Zillow rental partnership, the Integrity Check compliance product, APAC carbon-market reporting, and joint-printing efficiency efforts. The broader strategy remained focused on digital expansion, partnerships, and cost discipline.

Guidance delta

Maintained; no change to guidance sentiment was identified in the supplied analysis.

Key takeaways

  • Management emphasized continued digital growth across subscriptions, real estate services, and professional information.
  • REA pricing and listing activity, Dow Jones retention, audiobook distribution, and streaming demand were identified as growth drivers.
  • Free-cash-flow improvement, stable capital spending, and efficiency programs support the margin narrative.
  • Advertising weakness, housing-market sensitivity, and declining traditional media remain important offsets.

Management priorities

  • Expand digital subscriptions and bundled Dow Jones offerings.
  • Implement REA pricing increases and expand listings in Australia and India.
  • Scale the Zillow rental partnership and reinvest proceeds into realtor.com.
  • Drive adoption of Hubbl and continue building streaming products.
  • Pursue AI-enabled journalism and generative-AI applications alongside cost efficiencies.

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Earnings History

Estimate Beat Miss Match
NWS EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q2 '24 actual $0.26, None Q3 '24 estimate $0.11 Q3 '24 actual $0.11, match Q4 '24 estimate $0.16 Q4 '24 actual $0.17, beat Q1 '25 actual $0.21, None Q4 '25 estimate $0.20 Q4 '25 actual $0.19, match Q1 '26 estimate $0.19 Q1 '26 actual $0.22, beat Q2 '26 estimate $0.25 Q2 '26 actual $0.40, beat Q3 '26 estimate $0.19 Q3 '26 actual $0.21, beat Q4 '26 estimate $0.23 Q4 '26 actual $0.35, beat Q1 '27 estimate $0.26 Q2 '27 estimate $0.44 Q3 '27 estimate $0.25
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Analyst Consensus ?

ConsensusBuy33 ratings
Bullish2163.6%
Neutral927.3%
Bearish39.1%

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
JP Morgan Overweight OverweightMaintainAug 20, 2023
Guggenheim Buy BuyMaintainAug 13, 2023
Loop Capital Buy HoldUpgradeJan 24, 2023
Macquarie Neutral OutperformDowngradeJul 27, 2022
UBS Buy NeutralUpgradeJul 25, 2021
Show 28 more rating actions

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Company context

Snapshot as of publication

News Corporation stands as a leading global enterprise in media and information services, dedicated to creating and distributing compelling, authoritative content, alongside a variety of products and services, for consumers and businesses worldwide. Its extensive operations are segmented into six core areas: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other. The company disseminates a rich array of content and data products, including renowned titles like The Wall Street Journal, Barron's, MarketWatch, and Factiva, through diverse mediums such as print newspapers, websites, mobile applications, proprietary databases, video, and podcasts.…

Historical context

All NWS earnings
+1.5%FY2026 Q3 · Calendar Q2 2026-6.4%FY2026 Q2 · Calendar Q1 2026+6.4%FY2026 Q1 · Calendar Q4 2025

Communication Services peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
RCI Rogers Communications Inc. FY2026 Q3 · Calendar Q4 2026 +9.5% -2.4% Rogers Reaffirms 2026 Guidance as Capex Falls and MLSE Monetization Advances
OMC Omnicom Group Inc. FY2026 Q3 · Calendar Q4 2026 +2.2% +2.6% Omnicom pairs resilient demand with AI and integration progress
SPOT Spotify Technology S.A. FY2026 Q3 · Calendar Q4 2026 -11.6% +11.1% Spotify: resilient Q3 demand, with AI and audiobooks central to growth
CMCSA Comcast Corporation FY2026 Q3 · Calendar Q4 2026 +8.5% +3.4% Comcast balances wireless and Peacock gains against Q4 costs

Latest beats and misses

Who reports next

Beat on EPS

Missed on EPS

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-11-11T06:39:45.180704+00:00
  3. Polygon adjusted daily market bars · 2026-10-25T01:10:41.110360+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.