News Corp Profit Streak Extends to Fourteen Quarters

The Tip Desk · November 5, 2026 · 3 min read

Net income reached $215 million in the three months ended September 30, 2026, as Total Segment EBITDA rose 19% to $403 million.

News Corporation (NWSA) reported net income of $215 million for the three months ended September 30, 2026, a 43% increase from $150 million a year earlier, and said the quarter marked its fourteenth consecutive period of year-over-year profitability growth.

Total revenues were $2.28 billion, up 6% from $2.14 billion, after 11% year-over-year growth in the fiscal 2026 fourth quarter and 9% growth in the third quarter. Adjusted revenues, which exclude foreign currency, acquisitions and divestitures, increased 4%. Results included a $43 million, or 2%, positive impact from foreign currency fluctuations.

Total Segment EBITDA was $403 million, up 19% from $340 million. Adjusted Total Segment EBITDA increased 13%. Reported earnings were $0.29 a share versus $0.20 a year earlier; adjusted EPS were $0.28 versus $0.22. The company said net income was driven primarily by higher Total Segment EBITDA and higher Other, net, including a gain related to the divestiture of REA India’s remaining business, partially offset by higher income tax expense.

Chief Executive Robert Thomson said the company began fiscal 2027 with a record first-quarter performance and that its three growth engines—Digital Real Estate Services, Dow Jones and Book Publishing—delivered results despite volatile economic conditions.

Dow Jones revenues were $630 million, up 8% from $586 million, with Adjusted Revenues also up 8%. Circulation and subscription revenues rose $33 million, or 7%, including 11% growth in Dow Jones Risk & Compliance to $104 million and 8% growth in Dow Jones Energy to $79 million. Digital revenues represented 85% of the segment. Total average subscriptions to Dow Jones news products were over 6.9 million, up 8%; digital-only subscriptions grew 10% to nearly 6.5 million. Wall Street Journal total subscriptions grew 9% to 5.0 million and digital-only subscriptions grew 11% to nearly 4.7 million. Segment EBITDA was $160 million, up 11%.

Digital Real Estate Services revenues were $529 million, up 10% from $479 million; Adjusted Revenues increased 4%. Segment EBITDA was $212 million, up 34% from $158 million; Adjusted Segment EBITDA increased 23%. REA Group revenues rose 13% to $369 million, including a $27 million, or 8%, foreign-currency impact, with Australian residential growth from price increases, add-on products and depth penetration. Australian national residential buy listing volumes declined 2%, with Sydney and Melbourne down 16%. Move revenues increased $8 million, or 5%, to $160 million, after 13% growth in the fiscal 2026 fourth quarter and 10% growth in the third quarter, primarily from higher RealPRO Select sales. Realtor.com average monthly unique users were 66 million, an 8% decrease, and lead volumes decreased 11%.

Book Publishing revenues were $582 million, up 9% from $534 million, after 15% growth in the fiscal 2026 fourth quarter and 8% growth in the third quarter; Adjusted Revenues increased 8%. Segment EBITDA was $75 million, up 29% from $58 million, due to higher revenues and the absence of a $13 million customer-receivable write-off in the prior year, partially offset by higher costs.

News Media revenues were $540 million, down 1% from $545 million; Adjusted Revenues decreased 4%. Segment EBITDA was $18 million, down 40% from $30 million. Digital revenues represented 41% of News Media segment revenues.

Free cash flow was $(89) million versus $4 million a year earlier, as net cash from operating activities from continuing operations fell to $13 million from $85 million and capital expenditures rose to $102 million from $81 million. The company said the operating-cash decline was primarily due to the timing of working capital movements and higher tax payments, partially offset by higher Total Segment EBITDA.