News Corporation · NWS · FY2024 Q4 · Calendar Q3 2024

News Corp posts record Q4 profit as digital growth broadens

News Corp's Q4 results support a constructive view of its digital-growth trajectory: Digital Real Estate Services, Dow Jones B2B, audiobooks and streaming all contributed to momentum. The thesis still depends on sustaining digital advertising and subscriptions while managing AI-related legal exposure, Foxtel transaction uncertainty and higher investment.

Reported After market closeNASDAQCommunication Services $17.52B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.17 Consensus $0.16
EPS surprise +7.9% Reported versus consensus
Reported revenue $2.58B Consensus $2.49B
Revenue surprise +3.4% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +3.6% Event window
SPY move +0.4% Same window
Abnormal move +3.1% Stock minus SPY
Volume 1.0× Versus trailing sessions
Subsequent drift -3.9% Up to 20 sessions
NWSSPY benchmark

Ask FN2 about NWS FY2024 Q4

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Why did NWS rise 3.6% after beating EPS estimates in FY2024 Q4?What changed in NWS's guidance and outlook in FY2024 Q4?Give me the bull and bear case for NWS after FY2024 Q4 earnings.

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Transcript intelligence

What changed

The quarter added an OpenAI content partnership, nearly 200,000 Foxtel streaming subscribers, a 250% HarperCollins EBITDA increase and a strategic review of Foxtel. Management also pointed to higher FY25 digital capex.

Guidance delta

Maintained; management highlighted a modest FY25 capex increase and continued investment in AI and streaming.

Key takeaways

  • Q4 revenue and profit reached record levels, with digital segments contributing 80% of segment revenue.
  • Dow Jones B2B now contributes more than half of its profitability, with renewal rates above 90%.
  • HarperCollins EBITDA rose 250%, while Foxtel streaming added nearly 200,000 subscribers.
  • News Corp announced an OpenAI partnership and continues to evaluate strategic options for Foxtel.

Management priorities

  • Scale AI-driven products across News and Dow Jones.
  • Invest in Foxtel streaming technology and content rights while moderating Hubbl spending.
  • Expand Dow Jones Energy and Risk & Compliance products.
  • Continue cost-efficiency programs and restructure News Media assets.
  • Increase digital capex to support growth pillars and subscription video offerings.

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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. 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

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
  3. Polygon adjusted daily market bars · 2026-10-12T20:40:41.310066+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 2026-10-12. For educational purposes only; not investment advice.