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News Corp beats fourth-quarter revenue estimates
Aug 8, 2024 1:51 PM

Aug 8 (Reuters) - Media conglomerate News Corp ( NWSA )

beat Wall Street estimates for fourth-quarter revenue on

Thursday, helped by digital subscription growth at its Dow Jones

business information unit.

Revenue in the quarter ended June 30 rose 6%, to $2.58

billion, compared to an estimate of $2.49 billion, according to

LSEG data.

Part of media mogul Rupert Murdoch's empire, News Corp ( NWSA )

has benefited from its thriving business information unit, Dow

Jones, which includes leading publications such as The Wall

Street Journal, Barron's and Market Watch.

London Stock Exchange Group ( LDNXF ) signed a

multi-year news and data partnership

with Dow Jones last month. Sam Altman-led OpenAI has

also partnered

with the media company for access to its news content.

Revenue at Dow Jones grew 4%, to $566 million, driven by

growth in circulation and subscription revenues.

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