NWS · Full Picture

NEWS CORP — the full picture

Trailing window · 2026-05-11 to 2026-08-09

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

1. Revenue Performance and Mix · Revenue growth & mixPriority 70
   +95.8% revenue (realized); 2 sources (news, press_release); quote_verified
   Fourth quarter revenues were $2.34 billion, an 11% increase compared to $2.11 billion in the prior year.
2. Operating Income and Margins · Operating income & profitabilityPriority 67
   +13.4% operating_income (realized); quote_verified
   Fourth quarter net income from continuing operations was $230 million, a 167% increase compared to $86 million in the prior year.
3. Capital Return Program · Buybacks & dividendsPriority 64
   3 forward row(s); quote_verified
   The buyback accelerated to well over four times the prior year’s rate at $643 million for fiscal 2026.
4. Digital Real Estate Growth · UnclassifiedPriority 63
   +14.3% revenue (realized); quote_verified
   Fiscal 2025 Digital Real Estate Services Real estate: $1,410; Fiscal 2026: $1,571; FX impact: $49; Fiscal 2026 constant currency: $1,522; % Change - reported: 11%; % Change - constant currency: 8%
5. Dow Jones Revenue Growth · Revenue growth & mixPriority 54
   +7.1% revenue (realized); quote_verified
   Fiscal 2025 Dow Jones Circulation and subscription: $1,884; Fiscal 2026: $2,020; FX impact: $17; Fiscal 2026 constant currency: $2,003; % Change - reported: 7%; % Change - constant currency: 6%
6. FX / Currency Impact · Currency / FXPriority 53
   +8.1% revenue (realized); quote_verified
   For the full year, results included a $189 million, or 2%, positive impact from foreign currency fluctuations on revenues.
7. Net Income and Profitability · Operating income & profitabilityPriority 51
   2 forward row(s); quote_verified
   Total segment EBITDA increased 31% to $423 million.
8. Operating Cash Flow and Free Cash Flow · Cash flow generationPriority 51
   quote_verified
   Full year free cash flow was $811 million, 42% higher than the prior year.
9. News Media Advertising Weakness · UnclassifiedPriority 50
   quote_verified
   Fiscal 2025 News Media Advertising (annual): $820; Fiscal 2026: $804; FX impact: $28; Fiscal 2026 constant currency: $776; % Change - reported: (2)%; % Change - constant currency: (5)%
10. Operating Expense Trends · Operating expenses (SG&A)Priority 47
    -4.8% operating_income (realized); quote_verified
    Impairment and restructuring charges for the quarter were $46 million and for the full year were $113 million.
11. Book Publishing Sales Growth · Revenue growth & mixPriority 45
    quote_verified
    Fiscal 2025 Book Publishing Consumer (annual): $2,047; Fiscal 2026: $2,185; FX impact: $28; Fiscal 2026 constant currency: $2,157; % Change - reported: 7%; % Change - constant currency: 5%
12. Dow Jones Subscription Growth · Recurring & subscription revenuePriority 45
    quote_verified
    Total average subscriptions to Dow Jones’ news products in the fourth quarter were over 6.7 million, a 7% increase compared to the prior year.

Threads by pillar

Revenue & Demand Priority 78 · 5 threads

• Revenue Performance and MixPriority 70 · News, Release
• Dow Jones Revenue GrowthPriority 54 · Release
• Book Publishing Sales GrowthPriority 45 · Release
• Dow Jones Subscription GrowthPriority 45 · Release
• Market Demand TrendsPriority 33 · News

Costs & Margins Priority 73 · 4 threads

• Operating Income and MarginsPriority 67 · Release
• Net Income and ProfitabilityPriority 51 · News
• Operating Expense TrendsPriority 47 · Release
• Headcount / RestructuringPriority 30 · Release

Capital & Balance Sheet Priority 67 · 2 threads

• Capital Return ProgramPriority 64 · Release
• Operating Cash Flow and Free Cash FlowPriority 51 · Release

Strategy & Portfolio Priority 46 · 2 threads

• Acquisition / Partnership / DivestiturePriority 43 · Release
• AI Content Licensing StrategyPriority 35 · Release

Macro & Market Conditions Priority 55 · 2 threads

• FX / Currency ImpactPriority 53 · Release
• Macroeconomic Consumer PressurePriority 20 · Release

Unclassified Priority 68 · 3 threads

• Digital Real Estate GrowthPriority 63 · Release
• News Media Advertising WeaknessPriority 50 · Release
• Liquidity and Debt PositionPriority 36 · Release

Expected impact by metric