Dow Jones had best profit since News Corp. acquisition
News Corp. chief executive officer Robert Thomson made the following comments during its second-quarter conference call:
Dow Jones also set records this quarter, including having its highest absolute EBITDA since News Corp acquired the company in late 2007 with segment EBITDA up 43%, while for New York Times eked out a 1% increase. Digital advertising expanded 29%, the highest quarter in Dow Jones history, while digital advertising at the New York Times fell by 2%.
Clearly, print was challenged during a pandemic period in which distribution was compromised. But overall advertising was down just 4%. Comparing dramatically with The New York Times, where it slumped 19%. In our professional information business, Risk and Compliance continued its record of extraordinary expansion with year-over-year revenue growth accelerating to 21%. Q2 marks Risk and Compliance 22nd consecutive quarter of double-digit revenue growth year-over-year.
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