News Corp Reports Q3 Earnings Above Estimates

News Corp reported third-quarter earnings that topped analyst expectations, with revenue climbing 9 percent to $2.19 billion. The company posted net income from continuing operations of $121 million, or 16 cents a share, up from $107 million, or 14 cents a share, a year earlier.

Adjusted earnings per share reached 21 cents against consensus estimates of 16 cents on revenue of $2.11 billion. Growth was led by an 8 percent rise in revenue at the Dow Jones unit to $619 million. The division publishes The Wall Street Journal and MarketWatch.

Digital real estate services revenue increased 17 percent to $473 million while book publishing revenue rose 8 percent to $555 million. The company said it remains on track for record profitability this fiscal year. Results reflected the transformation of its business model and the strength of its core growth engines.

The CEO pointed to artificial intelligence partnerships as a source of confidence amid industry disruption. The company struck a multiyear content licensing agreement with Meta earlier this year that will pay up to $50 million annually. It also maintains a content licensing deal with OpenAI signed in 2024.

Discussions continue with additional firms seeking high-quality, provenance-protected material. Such agreements are expected to contribute positively to revenue and profitability in coming quarters.

The executive warned against firms that scrape content without permission. The company is monitoring entities that resell material obtained illicitly and intends to pursue legal action against them. It also holds companies that purchase such content responsible.