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Quarterly results spotlight: News Corp Ltd (ASX: NWS) – second quarter results for FY22

Record revenue up 13% to $2.72bn, and a 15% YoY rise in first half revenue.

Net income in the quarter was flat at $262m for the quarter.

Total segment EBITDA in the quarter was $586m, an increase of 18% YoY to $497m.

EPS were $0.40/share compared to $0.39/share in the prior corresponding quarter.

Digital Real Estate Services segment revenues rose 35% in the quarter, with continued traffic gains at Move, operator of and strong listing volumes at REA Group.

Foxtel’s total streaming subscribers grew 66% compared to the prior year with BINGE and Kayo each reaching more than 1 million total subscribers.

Chief Executive Robert Thomson said ‘Our businesses are thriving, particularly at the Digital Real Estate Services, Dow Jones and Book Publishing segments, and there was a pronounced surge in profitability at our News Media segment.’

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