NWS earnings analysis
What we found in NWS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
News Corporation reported strong Q3 results with revenues of $2.185 billion, up 9% from the prior year, and EPS of $0.21, exceeding estimates. The company also raised its Q4 guidance, anticipating revenues between $2.4 billion and $2.6 billion, alongside an EPS expected to be between $0.22 and $0.26, reflecting robust performance particularly in Digital Real Estate Services and Dow Jones segments.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 9% YoY
- Revenue increased to $2.185 billion from $2.009 billion in Q3 2025.
- EPS Beat Estimates
- Reported EPS was $0.21, surpassing estimates of $0.19, a surprise of 10.5%.
- Strong Q4 Guidance Provided
- Management expects Q4 revenue between $2.4B-$2.6B and EPS of $0.22-$0.26.
- Digital Real Estate Growth
- Digital Real Estate Services grew by 17% year-over-year, showing increased demand.
- Dow Jones Segment Revenue Rise
- Dow Jones revenues grew by 8% to $619 million, led by circulation and subscription increases.
- Free Cash Flow Remains Strong
- Free cash flow for the nine months ended March 31, 2026 was $535 million, down slightly from $539 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Net Income from Continuing Ops
- Net income decreased 12% YoY to $121 million from $137 million, indicating pressure on profitability.
- Lower Segment EBITDA in News Media
- News Media segment EBITDA dropped 55% in Q3 2026, attributed to high costs and lower contributions.
- Geopolitical Tension Monitoring
- Ongoing geopolitical tensions are being closely watched as they could impact future performance.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.21
- Segment
- Dow Jones
- Segment
- Digital Real Estate Services
- Segment
- Book Publishing
- Segment
- News Media
What they said about what is next.
Management anticipates robust growth driven by key segments.
The filing reads better than the one before it.
What came before.
- 10-Q · February 6, 2025
- News Corporation reported Q2 revenues of $2,238 million, up from $2,135 million a year earlier, and net income attributable to News Corp stockholders of $215 million (diluted EPS $0.38) vs. $156 million (diluted EPS…
- 10-Q · May 9, 2024
- News Corp reported Q3 revenue of $2,423.0M, down $24.0M (-1.0%) year-over-year, while net income attributable to stockholders fell to $30M ($0.05 per share) from $50M ($0.09) a year ago. Operating profitability…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing NWS makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever