News Corp: Q3 EPS down 44%
(CercleFinance.com) - On Thursday evening News Corp, the parent company of Dow Jones, HarperCollins and Foxtel, amongst other brands, reported adjusted EPS of 9 cents for Q3 2022-23, down from 16 cents for the same period last year.
EBITDA for segments fell 11% to $320m, driven by higher costs in the Dow Jones segment, with revenues down 2% to $2.45bn, hurt by negative currency effects.
However, News Corp said that it was on track to achieve at least $160m in annualised savings from previously announced headcount reductions, which is higher than its previous estimate.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
EBITDA for segments fell 11% to $320m, driven by higher costs in the Dow Jones segment, with revenues down 2% to $2.45bn, hurt by negative currency effects.
However, News Corp said that it was on track to achieve at least $160m in annualised savings from previously announced headcount reductions, which is higher than its previous estimate.
Copyright (c) 2023 CercleFinance.com. All rights reserved.