News Corporation (NASDAQ:NWSA) Q3 2024 Earnings Conference Call May 8, 2024 5:00 PM ET
Company Participants
Michael Florin - Senior Vice President & Head, Investor Relations
Robert Thomson - Chief Executive
Susan Panuccio - Chief Financial Officer
Conference Call Participants
Entcho Raykovski - Evans & Partners
David Karnovsky - JPMorgan
Alan Gould - Loop Capital
Craig Huber - Huber Research
Darren Leung - Macquarie
Lucy Huang - UBS
Brian Han - Morningstar
Jamie Laskovski - Goldman Sachs
Operator
Welcome to News Corp's Third 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 third 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 release for the applicable periods posted on our website.
With that, I'll pass it over to Robert Thomson for some opening comments.
Robert Thomson
Thank you Mike. News Corp has again made substantial progress on our strategic imperative to transform the company and increase value for all shareholders. Our profitability rose slightly in the third quarter, as compared to the prior year, continuing our growth this fiscal year, and that increase follows the three most profitable years since the company was reincarnated in 2013. That improvement, which gathered pace in April came despite certain macroeconomic circumstances that were far from auspicious whether a strong dollar that devalued our revenues outside the U.S. particularly in Australia or the punitively high mortgage rates that obviously undermined activity in the U.S. housing market.