Books, real estate, and Dow Jones: News Corp’s future bypasses consumer news
News media absent from News Corp’s Q2 profit pillars
“AI is more friend than foe”, claimed News Corp CEO Robert Thomson during a second-quarter earnings call on Friday morning that revealed that News Corp is profiting from real estate listings, book sales, and its Dow Jones “professional information business”.
The company’s second quarter revenues rose by 6%, to $2.36 billion, driven by the “three core drivers of the business” as CEO Robert Thomson put it: Dow Jones (publisher of the Wall Street Journal), digital real estate services, and book publisher Harper Collins. EBITDA rose by 9% to $521m.
Net income dropped by 21% year-on-year to $242m, although the comparable December 2024 quarter saw a spike due to the sale of Singapore real estate hub Property Guru.
