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# News Corp Net Income Climbs 43% To $215 Million As Real Estate And Books Carry The Quarter
- URL: https://www.bullished.co/news-corp-net-income-climbs-43-to-215-million-as-real-estate-and-books-carry-the-quarter-fdbbfba7/
- Published: 2026-11-04T22:42:10.000Z
- Updated: 2026-11-04T22:42:10.000Z
- Description: Revenue rose 6% to $2.28 billion, News Media earnings fell 40%, and free cash flow turned negative at $89 million.
- Author: Matteo Parrino
- Tags: Earnings, NWSA, Industry: Communication Services

News Corp, which publishes The Wall Street Journal and owns HarperCollins and REA Group, said [net income rose 43% to $215 million](https://www.sec.gov/Archives/edgar/data/0001564708/000156470826000248/release-q1fy2027.htm?ref=bullished.co) in its fiscal first quarter, on revenue up 6% to $2.28 billion. Real estate and book publishing drove the gain, while the newspaper segment's earnings fell 40%.

## Real estate and books do the lifting

Total Segment EBITDA, the company's operating profit measure before depreciation, interest and taxes, rose 19% to [$403 million](https://www.businesswire.com/news/home/20261104846727/en/News-Corporation-Reports-First-Quarter-Results-for-Fiscal-2027?ref=bullished.co) from $340 million, in results released Wednesday. Earnings per share were $0.29 against $0.20 a year earlier, and adjusted earnings per share were $0.28 against $0.22\. Net income also got a lift from a gain on the sale of REA India's remaining business, partly offset by higher income tax expense, the company said.

Digital Real Estate Services EBITDA jumped 34% to $212 million, and Book Publishing climbed 29% to $75 million. The book unit's comparison was helped by the absence of a $13 million customer-receivable write-off in the prior-year quarter. Dow Jones EBITDA rose 11% to $160 million on 8% revenue growth.

News Media EBITDA fell 40% to $18 million from $30 million, which the company tied to lower revenues. Segment revenue slipped 1% to $540 million, or 4% lower excluding currency effects, acquisitions and divestitures, on lower print advertising and other revenues.

## Journal subscriptions near 6.5 million digital

Dow Jones digital-only news subscriptions grew 10% to nearly 6.5 million. Wall Street Journal digital-only subscriptions rose 11% to nearly 4.7 million. Digital was 85% of Dow Jones revenue.

Realtor.com's average monthly unique users fell 8% to 66 million, which the company attributed to broader macroeconomic trends and a focus on higher-quality leads. Lead volumes dropped 11%. At the tabloids, The Sun reached 57 million global monthly unique users in September, from 77 million a year earlier, and the New York Post's network reached 84 million, from 94 million.

## Cash flow turns negative

Operating cash flow fell to $13 million from $85 million, which the company blamed on working-capital timing and higher tax payments. After $102 million of capital spending, up from $81 million, free cash flow was negative $89 million against positive $4 million.

The company still repurchased $166 million of its shares and paid $61 million in dividends in the quarter. Cash stood at $1,777 million at September 30, down from $2,095 million at June 30.

## "We will woo and we will sue"

CEO Robert Thomson called it a record first quarter and said it was the company's fourteenth consecutive quarter of year-over-year profitability growth. On artificial intelligence, he said News Corp has partners in OpenAI and Meta and hopes other platforms will choose "compensation over confiscation." His line on the rest: "we will woo and we will sue."

The company's earnings call was scheduled for 5:00 p.m. ET on Wednesday.

Management is holding to its AI stance: license where partners pay, sue where they do not.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — NEWS CORP (NWSA)](https://www.sec.gov/Archives/edgar/data/0001564708/000156470826000248/nws-20261104.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit release-q1fy2027.htm — NEWS CORP 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001564708/000156470826000248/release-q1fy2027.htm?ref=bullished.co) — SEC EDGAR
- [News Corporation Reports First Quarter Results for Fiscal 2027](https://www.businesswire.com/news/home/20261104846727/en/News-Corporation-Reports-First-Quarter-Results-for-Fiscal-2027?ref=bullished.co) — businesswire.com

### More on News Corp. Class A

- [Vanguard Unit Reports 5.1% Passive Stake In News Corp, Almost None Of It Voted Directly](https://www.bullished.co/vanguard-unit-reports-5-1-passive-stake-in-news-corp-almost-none-of-it-voted-directly-5ca780b2/)

[All News Corp. Class A (NWSA) coverage →](https://www.bullished.co/tag/nwsa/)