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News Corporation (NWS-1.58%) has submitted its Form 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports total revenues of $2,238 million for the quarter, an increase from $2,135 million in the same quarter of the previous year. The increase was driven by higher revenues in the Digital Real Estate Services and Book Publishing segments.
Operating expenses for the quarter were $963 million, slightly down from $970 million the previous year. Selling, general, and administrative expenses increased to $797 million from $765 million.
Net income from continuing operations was $306 million, up from $194 million in the previous year. This increase was attributed to higher revenues and lower operating expenses.
The company reported a net loss from discontinued operations of $23 million, compared to a loss of $11 million in the previous year. This was related to the reclassification of Foxtel as a discontinued operation.
Net income for the quarter was $283 million, compared to $183 million in the previous year. Net income attributable to News Corporation stockholders was $215 million, up from $156 million.
Cash provided by operating activities was $278 million, while cash used in investing and financing activities was $56 million and $342 million, respectively.
As of December 31, 2024, News Corporation had cash and cash equivalents of $1,751 million. The company also reported total borrowings of $1,967 million.
The filing includes details on the sale of Foxtel to DAZN Group Limited, which is expected to close in the second half of fiscal 2025, pending regulatory approvals.
News Corporation's Board of Directors declared a semi-annual cash dividend of $0.10 per share for Class A and Class B Common Stock, payable on April 9, 2025.
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 February 6, 2025. To report an error, please email earnings@qz.com.