News Corporation (NASDAQ:NWSA) Q1 2025 Earnings Call Transcript November 7, 2024 5:00 PM ET
Company Participants
Michael Florin - SVP and Head of IR
Robert Thomson - CEO
Susan Panuccio - CFO
Conference Call Participants
Alan Gould - Loop Capital
David Karnovsky - JPMorgan
Kane Hannan - Goldman Sachs
Entcho Raykovski - Evans and Partners
Craig Huber - Huber Research
Lucy Huang - UBS
Operator
Welcome to the News Corp's First Quarter Fiscal 2025 Earnings Conference Call. Today's conference is being recorded. Media will be allowed on a listen-only basis. At this time, I'd 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 2025 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'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 over to Robert Thomson for some opening comments.
Robert Thomson
Thank you, Mike. There is no doubt we have begun fiscal 2025 robustly with record first quarter revenue and record first quarter profitability. Revenue rose 3% year-over-year to $2.58 billion, while profitability surged 14% to $415 million. Our profit margin rose from 14.6% a year ago to 16.1%, and recurring circulation and subscription revenues continued to expand, as our reliance on a sometimes volatile advertising market has declined markedly. Our net income jumped from $58 million last year to $144 million and our EPS was $0.21 compared to $0.05 in the same quarter last year. That we have achieved these record first quarter results in macro conditions, which were far from auspicious tells much about the successful transformation of News Corp over the past decade.