News Corporation (NWSA) Q2 2023 Earnings Call Transcript
News Corporation (NASDAQ:NWSA) Q2 2023 Results Conference Call February 9, 2023 5:00 PM ET
Company Participants
Michael Florin - Senior VP and Head of IR
Robert Thomson - CEO and Director
Susan Panuccio - CFO
Conference Call Participants
Kane Hannan - Goldman Sachs
David Karnovsky - JPMorgan
Craig Huber - Huber Research
Entcho Raykovski - Credit Suisse
Alan Gould - Loop Capital
Brian Han - Morningstar
Johnny Huynh - Evans & Partners
Darren Lung - Macquarie
Operator
Welcome to News Corp's Second Quarter Fiscal 2023 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 2023 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 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. The second quarter produced challenges for some of our businesses and highlighted the progress made in other segments that had been challenged. Obviously, a surge in interest rates and persistent inflation had an impact on all of our businesses, but in particular, Digital Real Estate and Book Publishing, which remains a majority of physical business and continues to be subject to logistical exigencies. But we believe these challenges are more ephemeral than eternal. And just as our company passed the stress test of the pandemic with record preference. The reform is now underway at our businesses should create a solid platform for future profitability.