News Corporation (NASDAQ:NWSA) Q1 2024 Earnings Conference Call November 9, 2023 5:00 PM ET
Company Participants
Michael Florin - Senior Vice President and Head, IR
Robert Thomson - Chief Executive
Susan Panuccio - Chief Financial Officer
Conference Call Participants
Lucy Huang - UBS
Alan Gould - Loop Capital
Ted Karakostas - JPMorgan
Entcho Raykovski - Evans & Partners
Craig Huber - Huber Research
Brian Han - Morningstar
Darren Leung - Macquarie
Operator
Welcome to News Corp’s First Quarter Fiscal 2024 Earnings Conference Call. Today’s conference is being recorded. Media will be allowed on a listen-only basis.
At this time, I would like to turn the conference over to Michael Florin, Senior Vice President and Head of Investor Relations. Please go ahead.
Michael Florin
Thank you very much, Operator. Hello, everyone. And welcome to News Corp’s fiscal first quarter 2024 earnings call. We issued our earnings press release about 30 minutes ago and it’s now posted on our website at newscorp.com.
On the call today are Robert Thomson, Chief Executive; and Susan Panuccio, Chief Financial Officer. We will open with some prepared remarks and I will be happy to take questions from the investment community.
This call may include certain forward-looking information with respect to News Corp’s business and strategy. Actual results could differ materially from what is said. News Corp’s Form 10-K and Form 10-Q filings identify risks and uncertainties that could cause actual results to differ and contain cautionary statements regarding forward-looking information.
Additionally, this call will include certain non-GAAP financial measurements such as total segment EBITDA, adjusted segment EBITDA and adjusted EPS. The definitions and the GAAP to non-GAAP reconciliations of such measures can be found in the earnings release for the applicable periods posted on our website.
With that, I will pass it over to Robert Thomson for some opening comments.
Robert Thomson
Thank you, Mike. In a world replete with uncertainty, News Corp is proud to report rising revenues and increased profitability in the first quarter of fiscal 2024. These distinctly positive results come despite specious macroeconomic conditions including steep interest rates and unfavorable foreign exchange fluctuations. The potential for even greater profitability should be even more pronounced when we return to economic equilibrium.
These results follow the three most profitable years since the creation of the new News Corp and our digital transformation has continued at pace. And in our view, these results certainly highlight the disparity between the value of our company and our share price, which we believe does not reflect our present profitability yet alone the potential of our incomparable growing businesses.