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How News Corp (NWSA) makes money: Q4 FY2026 revenue breakdown
The quarter in brief
Revenue grew 10.8% y/y to $2.34B, operating margin 10.7% vs 5.7%, net income $179M (−75.9% y/y).
Key growth driver: Real estate — the fastest-growing revenue line: $435, +22% y/y. · by the Q4 FY2026 report
Net income attributable to News Corporation stockholders
$179M
down 75.9% y/y
Total revenues
$2,337M
up 10.8% y/y
Operating income (calculated)
$249M
up 106% y/y
Next report
not announced yet
How does News make money?
News brought in $2.34 billion of revenue in Q4 FY2026, up 10.8% year over year. The largest source was Circulation and subscription: $820 million, or 35% of the total, followed by Consumer ($538M, 23%) and Real estate ($435M, 19%); other lines add the remaining 23%. Net income for the quarter was $179 million, down 75.9% year over year.
Revenue by source, Q4 FY2026
- Circulation and subscription$820M · 35% · +7.0%
- Consumer$538M · 23% · +16.5%
- Real estate$435M · 19% · +21.5%
- Advertising$363M · 16% · +2.8%
- Other$181M · 8% · +6.5%
Shares of $2.34B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
All figures in $M.
| Line item | Amount and change |
|---|---|
| Circulation and subscription | $820 · +7.0% |
| Consumer | $538 · +16.5% |
| Real estate | $435 · +21.5% |
| Advertising | $363 · +2.8% |
| Other | $181 · +6.5% |
| Total revenues | $2,337 · +10.8% |
| Operating expenses | $991 · +8.1% |
| Selling, general and administrative | $923 · +6.1% |
| Depreciation and amortization | $128 · +6.7% |
| Impairment and restructuring charges | $46 · −43.2% |
| Operating income (calculated) | $249 · +106% · 10.7% margin |
| Interest income, equity losses and other, net (calculated) | $29 · +164% |
| Income before income tax expense from continuing operations | $278 · +111% |
| Income tax expense | $48 · +4.3% · 17.3% effective rate |
| Net income attributable to noncontrolling interests | $51 · +54.5% |
| Net income attributable to News Corporation stockholders | $179 · −75.9% · $0.33/sh · 7.7% margin |
Verdict: revenue grew 10.8% y/y to $2.34B, operating margin 10.7% vs 5.7%, net income $179M (−75.9% y/y).
Diluted EPS $0.33 vs $1.31 a year earlier ($0.09 from continuing operations then); adjusted EPS $0.35 vs $0.19; Total Segment EBITDA $423 million, up 31%; fiscal 2026 revenues $9.03 billion.
Source and notation
Source: News Corp earnings release, 8-K EX-99 of 08/05/2026 (SEC EDGAR). The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
- Net income attributable to stockholders fell to $179M from $743M only because the prior-year quarter included $690M of net income from discontinued operations; net income from continuing operations rose to $230M from $86M.
- Revenues rose 11% to $2.34 billion: REA Group revenues rose 21%, Book Publishing 15%, Move (Realtor.com) 13% and Dow Jones 7%.
- Operating income was $249M, a 10.7% margin vs 5.7% a year earlier.
- The effective tax rate was 17.3% vs 34.8% a year earlier.
- Diluted EPS was $0.33 vs $1.31 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
Who runs the company now
- Robert J. ThomsonChief Executive Officer and Director [1]
- Lavanya ChandrashekarChief Financial Officer [2]
As of 10/20/2026, per the company’s SEC filings: signatures on the latest report and leadership-change filings.
Positions: the company’s SEC filings. Spotted an error, or is this you and you’d like it corrected or removed? Contact us
How this is compiled
Who runs the company now comes from primary sources only: for US companies, the CEO and CFO signatures on the latest SEC report, and a separate board chair from the proxy statement (DEF 14A); for Russian and Kazakh issuers, the company website and its disclosures. We recheck weekly; if a name can’t be confirmed, or a leadership-change filing came out after the report, we don’t show it until it’s reviewed. History comes from proxy statements, disclosures, Wikipedia and Wikidata; years show when a term started and ended, “since” means the person is in office now. An outcome for a previous employer is shown only when the linked document states it.
Sources · 2
- SEC EDGAR: 10-K 2026-08-07 · SEC EDGAR · 10/20/2026
- SEC EDGAR: 10-K 2026-08-07 · SEC EDGAR · 10/20/2026
Tickers: NWSA (Class A), NWS (Class B)
News Corporation, doing business as News Corp, is an American mass media and publishing company headquartered at 1211 Avenue of the Americas in Midtown Manhattan, New York City. · Text: Wikipedia, CC BY-SA 4.0, abridged
The company was formed on June 28, 2013, as a spin-off of the first News Corporation, whose legal successor was 21st Century Fox, which held its media and entertainment assets. Operating across digital real estate information, news media, book publishing, and cable television, News Corp's notable assets include: Dow Jones & Company, which is the publisher of The Wall Street Journal; News UK, publisher of The Sun and The Times; News Corp Australia; REA Group, operator of realestate.com.au and realtor.com; and book publisher HarperCollins.
Heads-up
- net income fell 76% y/y in Q4 FY2026
Most likely because net income attributable to stockholders fell to $179M from $743M only because the prior-year quarter included $690M of net…; operating income was $249M, a 10.7% margin vs 5.7% a year earlier; the effective tax rate was 17.3% vs 34.8% a year earlier. Based on the Q4 FY2026 report.
The company's report ↗Company guidance
Same quarter a year ago (ended September 30, 2025): revenue $2.144B, EPS (GAAP) $0.20
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
NWSA earnings history: past report dates
| Aug 5, 2026 Wed | 4:17 pmafter market close | Jun 30, 2026 | ≈$2.3B+11% y/y | ≈$0.33−75% y/y |
| May 7, 2026 Thu | 4:20 pmafter market close | Mar 31, 2026 | $2.2B+9% y/y | $0.16−11% y/y |
| Feb 5, 2026 Thu | 4:16 pmafter market close | Dec 31, 2025 | $2.4B+6% y/y | $0.34−11% y/y |
| Nov 6, 2025 Thu | 4:20 pmafter market close | Sep 30, 2025 | $2.1B+2% y/y | $0.20−5% y/y |
| Aug 5, 2025 Tue | 4:17 pmafter market close | Jun 30, 2025 | ≈$2.1B−39% y/y | ≈$1.31 |
| May 8, 2025 Thu | 4:17 pmafter market close | Mar 31, 2025 | $2.0B+1% y/y | $0.18+260% y/y |
| Feb 5, 2025 Wed | 4:16 pmafter market close | Dec 31, 2024 | $2.2B+5% y/y | $0.38+41% y/y |
| Nov 7, 2024 Thu | 4:18 pmafter market close | Sep 30, 2024 | $2.1B−16% y/y | $0.21+320% y/y |
| Aug 8, 2024 Thu | 4:17 pmafter market close | Jun 30, 2024 | ≈$3.5B+511% y/y | ≈$0.09 |
| May 8, 2024 Wed | 4:17 pmafter market close | Mar 31, 2024 | $2.0B−19% y/y | $0.05−44% y/y |
| Feb 7, 2024 Wed | 4:17 pmafter market close | Dec 31, 2023 | $2.1B−15% y/y | $0.27+125% y/y |
| Nov 9, 2023 Thu | 4:16 pmafter market close | Sep 30, 2023 | $2.5B+1% y/y | $0.05−29% y/y |
| Aug 10, 2023 Thu | 4:17 pmafter market close | Jun 30, 2023 | ≈$566M−79% y/y | ≈−$0.01 |
| May 11, 2023 Thu | 4:17 pmafter market close | Mar 31, 2023 | $2.4B−2% y/y | $0.09−36% y/y |
| Feb 9, 2023 Thu | 4:17 pmafter market close | Dec 31, 2022 | $2.5B−7% y/y | $0.12−70% y/y |
| Nov 8, 2022 Tue | 4:17 pmafter market close | Sep 30, 2022 | $2.5B−1% y/y | $0.07−79% y/y |
| Aug 8, 2022 Mon | 4:17 pmafter market close | Jun 30, 2022 | ≈$2.7B+7% y/y | ≈$0.19 |
| May 5, 2022 Thu | 4:19 pmafter market close | Mar 31, 2022 | $2.5B+7% y/y | $0.14+8% y/y |
| Feb 3, 2022 Thu | 4:17 pmafter market close | Dec 31, 2021 | $2.7B+13% y/y | $0.40+3% y/y |
| Nov 4, 2021 Thu | 4:22 pmafter market close | Sep 30, 2021 | $2.5B+18% y/y | $0.33+450% y/y |
| Aug 5, 2021 Thu | 4:20 pmafter market close | Jun 30, 2021 | ≈$2.5B+30% y/y | ≈−$0.02+97% y/y |
| May 6, 2021 Thu | 4:18 pmafter market close | Mar 31, 2021 | $2.3B+3% y/y | $0.13 |
| Feb 4, 2021 Thu | 4:03 pmafter market close | Dec 31, 2020 | $2.4B−3% y/y | $0.39+179% y/y |
| Nov 5, 2020 Thu | 4:25 pmafter market close | Sep 30, 2020 | $2.1B−10% y/y | $0.06 |
| Aug 6, 2020 Thu | 4:50 pmafter market close | Jun 30, 2020 | ≈$1.9B−22% y/y | ≈−$0.67−644% y/y |
| May 7, 2020 Thu | 4:32 pmafter market close | Mar 31, 2020 | $2.3B−8% y/y | −$1.24 |
| Feb 6, 2020 Thu | 4:52 pmafter market close | Dec 31, 2019 | $2.5B−6% y/y | $0.14−12% y/y |
| Nov 7, 2019 Thu | 4:53 pmafter market close | Sep 30, 2019 | $2.3B−7% y/y | −$0.39 |
| Aug 8, 2019 Thu | 4:48 pmafter market close | Jun 30, 2019 | ≈$2.5B−8% y/y | ≈−$0.09+86% y/y |
| May 9, 2019 Thu | 4:24 pmafter market close | Mar 31, 2019 | $2.5B+17% y/y | $0.02 |
| Feb 7, 2019 Thu | 4:24 pmafter market close | Dec 31, 2018 | $2.6B+21% y/y | $0.16 |
| Nov 7, 2018 Wed | 4:49 pmafter market close | Sep 30, 2018 | $2.5B+23% y/y | $0.17+42% y/y |
| Aug 9, 2018 Thu | 4:24 pmafter market close | Jun 30, 2018 | ≈$2.7B+29% y/y | ≈−$0.64+14% y/y |
| May 10, 2018 Thu | 4:22 pmafter market close | Mar 31, 2018 | $2.1B+6% y/y | −$1.94 |
| Feb 8, 2018 Thu | 4:22 pmafter market close | Dec 31, 2017 | $2.2B+3% y/y | −$0.14+72% y/y |
| Nov 9, 2017 Thu | 4:54 pmafter market close | Sep 30, 2017 | $2.1B+5% y/y | $0.12 |
| Aug 10, 2017 Thu | 4:26 pmafter market close | Jun 30, 2017 | $2.1B−7% y/y | −$0.74 |
| May 9, 2017 Tue | 4:53 pmafter market close | Mar 31, 2017 | $2.0B+5% y/y | −$0.01+96% y/y |
| Feb 9, 2017 Thu | 4:20 pmafter market close | Dec 31, 2016 | $2.1B−2% y/y | −$0.50 |
| Nov 7, 2016 Mon | 4:24 pmafter market close | Sep 30, 2016 | $2.0B−2% y/y | −$0.03 |
| Aug 8, 2016 Mon | 4:09 pmafter market close | Jun 30, 2016 | ≈$2.2B | ≈$0.15+0% y/y |
| May 5, 2016 Thu | 4:47 pmafter market close | Mar 31, 2016 | $1.9B+0% y/y | −$0.26+0% y/y |
| Feb 4, 2016 Thu | 4:15 pmafter market close | Dec 31, 2015 | $2.2B+0% y/y | $0.11+0% y/y |
| Nov 5, 2015 Thu | 4:39 pmafter market close | Sep 30, 2015 | $2.0B+0% y/y | $0.30+0% y/y |
| Aug 12, 2015 Wed | 4:44 pmafter market close | Jun 30, 2015 | — | $0.15+650% y/y |
| May 5, 2015 Tue | 4:15 pmafter market close | Mar 31, 2015 | $1.9B−9% y/y | −$0.26 |
| Feb 5, 2015 Thu | 4:16 pmafter market close | Dec 31, 2014 | $2.2B−3% y/y | $0.11−58% y/y |
| Nov 5, 2014 Wed | 4:35 pmafter market close | Sep 30, 2014 | $2.0B−3% y/y | $0.30+500% y/y |
| Aug 7, 2014 Thu | 4:20 pmafter market close | Jun 30, 2014 | $2.2B−3% y/y | $0.02 |
| May 8, 2014 Thu | 4:21 pmafter market close | Mar 31, 2014 | $2.1B−5% y/y | $0.08−86% y/y |
| Feb 6, 2014 Thu | 4:13 pmafter market close | Dec 31, 2013 | $2.2B−4% y/y | $0.26−89% y/y |
| Nov 12, 2013 Tue | 6:17 ambefore market open | Sep 30, 2013 | $2.1B−3% y/y | $0.05 |
Show all 52 reports since 2013Show fewer
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
News Corp: 15-year financials
| FY2026 | 9,028 | 573 | 811 | 204 |
| FY2025 | 8,452 | 1,180 | 571 | 185 |
| FY2024 | 8,252 | 266 | 741 | 172 |
| FY2023 | 8,012 | 149 | 745 | 174 |
| FY2022 | 10,385 | 623 | 855 | 175 |
| FY2021 | 9,358 | 330 | 847 | 163 |
| FY2020 | 9,008 | −1,269 | 342 | 158 |
| FY2019 | 10,074 | 155 | 356 | 161 |
| FY2018 | 9,024 | −1,514 | 393 | 158 |
| FY2017 | 8,139 | −738 | 238 | 152 |
| FY2016 | 8,292 | 179 | 622 | 147 |
| FY2015 | —* | −147 | 523 | 30 |
| FY2014 | 8,486 | 239 | 671 | 24 |
| FY2013 | 8,891 | 506 | 169 | 20 |
| FY2012 | 8,654 | −2,075 | 476 | 13 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing. The company’s fiscal year doesn’t match the calendar year, so years follow the company’s own labels. History starts in fiscal 2012: earlier years aren’t in the company’s SEC filings (it’s younger or was spun off). “—*” in revenue: we don’t show that year’s revenue — the annual figure is more than 2% off the sum of the quarters, or the filing tags several revenue lines and the total can’t be pinned down.
Shareholders’ equity at Jun 30, 2026: $8.5B (55% of total assets). Compare with other S&P 500 companies →
Included in screener lists: S&P 500 companies with no net debt · S&P 500 companies that paid dividends 10 years without a gap
News Corp (NWSA) earnings: FAQ
How does News make money?
News brought in $2.34 billion of revenue in Q4 FY2026, up 10.8% year over year. The largest source was Circulation and subscription: $820 million, or 35% of the total, followed by Consumer ($538M, 23%) and Real estate ($435M, 19%); other lines add the remaining 23%. Net income for the quarter was $179 million, down 75.9% year over year.
When is NWSA's next earnings date?
We have not yet seen an announcement of the date from News Corp (NWSA). Based on last year's report on Nov 6, 2025, the next report is expected around Nov 5, 2026.
What time does NWSA report earnings?
News Corp usually reports after market close: its latest results release was filed with the SEC at 4:17 pm ET on Aug 5, 2026.
When did NWSA last report earnings?
News Corp reported Q4 FY2026 results on Aug 5, 2026.
Where can I find News Corp's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to NWSA's filings; this page breaks the latest report down in a Sankey chart.
What was NWSA's net income in Q4 FY2026?
News Corp reported net income of $179M for Q4 FY2026 (−75.9% year over year), under US GAAP.
Does News Corp pay dividends?
Yes. In fiscal 2026, News Corp paid $204M in dividends on its common stock, per its 10-K. Earlier years are in the 15-year table above.
How has News Corp's revenue changed since 2012?
Per its 10-K filings, revenue was roughly flat: $8,654M in fiscal 2012 and $9,028M in fiscal 2026. The peak was $10,385M in fiscal 2022. Year-by-year figures are in the table above.
New to earnings reports? Start with how to read an earnings report.
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