News Corporation (ASX:NWS) Released First Quarter Trading Update Overnight in New York
Revenue totalled US$2.01bn compared to US $2.11bn during the same period last year. EBITDA declined US $29m or 15% to US $195m, however the company states that income from continuing operations increased to US $143m compared to US $109m during pcp. While news and information services experienced a decline in top line revenue, digital real estate services rose 71% to US$191m.
Headquartered in New York, News Corp has activities in the United States, Australia and the United Kingdom.
Chief Executive Officer Robert Thomson commented on the results: “News Corp is on track in its transition to a more digital and global future, having successfully integrated several recent acquisition and built a powerful platform for future growth. We are focused on driving sustainable expansion of revenue and profit and leveraging the potency of our brands while diligently controlling costs to maximize long-term returns for all investors.”
Mr Thomson states that the decline in revenue is largely due to currency fluctuations as it otherwise would have risen by 4%. News Corp reports in USD.Earnings per share from continuing operations available to News Corporation stockholders were US $0.22 as compared to US $0,15 in the prior year.
REA Group Delivers 21% Revenue Growth and Significantly Higher Free Cash Flow
REA Group Limited (ASX:REA) which recently announced that it intends to acquire iProperty group (ASX:IPP) announced a strong first quarter trading update. Revenue rose 21% to A$146m, up from A$121m last year. EBITDA from core operations increased 30% to A$82m.
Higher listing volumes in the Australian market has driven the top line growth. REA has reiterated that its flagship site realestate.com.au remains the market leader in all areas. Average monthly visitors increased 33% to $42.7m.
REA Group Chief Executive officer Tracey Fellows said: “This has been a strong first quarter for REA. We’ve seen growth in the Australian listings markets and we’ve continued to provide new and exciting ways for people to be in charge of how and when they buy, sell, rent or invest in property.”
Author: Simon Herrmann
Nov 06, 2015
Simon is a financial analyst at independent research firm Wise-owl who wants to change the world by disrupting the cliché approach to investment decision making with convergent thinking. Wise-owl’s goal is plain and simple: Find the best opportunities for our members by following a proven methodology and to create long-term value through high-quality advice, innovation, technology and education. We combine industry experience and the agile mentality of a start-up. Wise-owl is the future of stock market investing.