News Corp reports higher revenue as CEO shares pointed message to AI firms

New York Post

5 hours ago

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News Corp reported a 2% increase in revenue for its fiscal first quarter, reaching $2.14 billion and exceeding analyst expectations. This growth was primarily driven by strong performance at Dow Jones and its digital real estate businesses. Net income also saw a modest increase of 1% to $150 million. Alongside these positive financial results, Chief Executive Robert Thomson issued a strong message to artificial intelligence companies, stating they must pay for the data and journalism they utilize. Thomson emphasized that creativity and content are essential to AI, comparing AI without this input to empty infrastructure. Profitability improved across News Corp's segments, including its News Media division, which houses publications like The Post and The Times of London. This segment's revenue rose 1%, supported by increased cover and subscription prices, and notable advertising strength at the New York Post. Segment EBITDA for the company as a whole increased by 5% to $340 million. Thomson indicated that Ne... download the app to read more

ws Corp is actively pursuing a legal and licensing strategy with AI firms, using both engagement and legal channels to secure compensation for its intellectual property. He expressed confidence that this strategy is gaining traction and anticipates announcing new partnerships that will positively impact future financial results. The company also noted its robust cash position and expectation of strong free cash flow for the fiscal year.

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