News Corp has released its Q3 results for the 2025 fiscal year, with revenues climbing one per cent to US$2.01 billion (AU$3.14 billion) year-on-year.
Dow Jones and News’ Digital Real Estate Services segments were the standout performers in the quarter, growing by six and five per cent to US$575 million and US$406 million (AU$899 million and AU$635 million), respectively.
Revenues in the quarter increased US$18 million, or five per cent, compared to the prior year, driven by higher revenues at
REA Group, while Move revenues increased for the second consecutive quarter.
Dow Jones’ revenue increased six per cent in the quarter, driven by higher circulation and subscription revenues.
Total average subscriptions to Dow Jones’ consumer products were 6.1 million, a seven per cent increase compared to the prior year. Digital-only subscriptions to Dow Jones’ consumer products grew nine per cent to more than 5.5 million. Total subscriptions to The Wall Street Journal grew three per cent compared to the prior year, to over 4.3 million average subscriptions in the quarter. Digital-only subscriptions to The Wall Street Journal grew five per cent to more than 3.9 million average subscriptions in the quarter, and represented 90 per cent of total Wall Street Journal subscriptions.
Its News Publishing segment, meanwhile, saw its revenue slip by eight per cent from US$556 million to US$514 million (AU$869 million and AU$804 million). The increases were partly offset by a $14 million, or three per cent, negative impact from foreign currency fluctuations. News attributed the decline to lower advertising revenues and from the transfer of third-party printing revenue contracts to News UK’s joint venture with DMG Media and lower circulation and subscription revenues.
News’ Australian titles saw a three per cent lift in subscribers. The Times and Sunday Times saw subscribers climb eight per cent. The Sun, meanwhile, has taken a bit of a battering with its global monthly unique users in March 2025 standing at 74 million, compared to 126 million year-on-year—a slip of 48 per cent.
The New York Post also saw its digital network slip from 125 million unique users in March 2024 to 85 million in March 2025.
“The sustained strength of News Corp’s third quarter reflects the Company’s strategic transformation. We have pursued digital growth, realigned our assets, focused relentlessly on cost discipline and asserted the essential value of our intellectual property in a changing, challenging content world,” said chief executive Robert Thomson.
“Net income from continuing operations rose 67 per cent to $107 million, benefiting from a 12 per cent increase in Total Segment EBITDA to $290 million, as revenue reached $2 billion, despite blustery currency headwinds and obvious macro uncertainty. Reported earnings per share from continuing operations doubled to $0.14 and margins expanded in every segment.”
The big news, however, from News Corp’s earnings this quarter was the completion of the Foxtel sale to DAZN (pronounced ‘Da Zone’, if you’re still not sure).
“The completion of the sale of Foxtel to DAZN last month marked a significant moment for News Corp as we continued to focus on our core pillars and on driving growth. The transaction meaningfully strengthened our balance sheet and is expected to increase return on invested capital, and be accretive to earnings per share. It also demonstrates our ongoing commitment to maximising returns for our shareholders,” said Thomson.
