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News Corporation (NWS-0.06%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports total revenues of $2,577 million, a 3% increase from $2,499 million in the same quarter of the previous year. This increase was driven by higher revenues in the Digital Real Estate Services and Book Publishing segments.
Operating expenses for the quarter were $1,263 million, a slight decrease from $1,273 million in the previous year. Selling, general, and administrative expenses increased to $899 million from $862 million.
Net income for the quarter was $144 million, compared to $58 million in the previous year, with the increase attributed to higher revenues and other income.
Cash provided by operating activities was $64 million, while cash used in investing and financing activities was $136 million and $147 million, respectively.
News Corporation reported a Segment EBITDA of $415 million, up from $364 million in the previous year, reflecting improved performance in several business segments.
The filing highlights the company's ongoing strategic review of the Foxtel Group, considering various options including capital structure and asset evaluation.
The company continued its stock repurchase program, buying back 1.3 million shares during the quarter, with $422 million remaining under the authorized repurchase program.
News Corporation declared a semi-annual cash dividend of $0.10 per share, paid on October 9, 2024, to stockholders of record as of September 11, 2024.
The filing also discusses various legal proceedings, including ongoing litigation related to antitrust claims against HarperCollins and civil claims associated with the U.K. Newspaper Matters.
News Corporation's borrowings totaled $2.9 billion as of September 30, 2024, with compliance maintained on all debt covenants.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the News Corporation quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.