News Corporation (NASDAQ:NWSA) Q2 2024 Earnings Conference Call February 7, 2024 5:00 PM ET
Company Participants
Michael Florin - Senior Vice President and Head, Investor Relations
Robert Thomson - Chief Executive
Susan Panuccio - Chief Financial Officer
Conference Call Participants
David Karnovsky - JPMorgan
Entcho Raykovski - Evans & Partners
Kane Hannan - Goldman Sachs
Craig Huber - Huber Research
Lucy Huang - UBS
Brian Han - Morningstar
Darren Leung - Macquarie
Operator
Welcome to News Corp’s Second 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 second 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 then we’ll 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 GAAP to non-GAAP reconciliations of such measures can be found in the earnings releases for the applicable periods posted on our website.
With that, I’ll pass over to Robert Thomson for some opening comments.
Robert Thomson
Thank you, Mike. For the second quarter in succession, News Corp has achieved growth in both revenue and profitability, and we believe there are strong prospects for further growth as difficult, inauspicious macro conditions ease in some of our markets.
We saw particularly robust results across the three core pillars of our company, Dow Jones, Book Publishing and Digital Real Estate Services, where there was resounding improvement in Australia in Q2 and there are early signs of recovery in the U.S. residential sector after the most sluggish market conditions in almost three decades.
Given the potential of our world-leading brands, we remain intent on creating long-term value for investors, and, as part of that commitment, our diligent, concerted review of the company’s structure continues apace.