Dow Jones & Co., the parent of The Wall Street Journal, MarketWatch.com and Barron’s, reported a 9 percent increase in revenue and a 24 percent increase in third-quarter profits, primarily due to acquisitions.
The company is owned by News Corp., which separates its financial performance. Third-quarter revenue increased to $529 million while EBITDA profits increased to $109 million.
Digital revenues at Dow Jones in the quarter represented 79 percent of total revenues compared to 76 percent in the prior year. Circulation and subscription revenues increased $49 million, or 13 percent, which includes the contributions from the acquisitions of OPIS and CMA.
Circulation revenue declined 1 percent, primarily due to lower print volume and lower revenues from Investor’s Business Daily, partially offset by the continued growth in digital-only subscriptions, primarily at The Journal. P
During the third quarter, total average subscriptions to Dow Jones’ consumer products reached over 5.1 million, a 6 percent increase compared to the prior year. Digital-only subscriptions to Dow Jones’ consumer products grew 10 percent.
Total subscriptions to The Journal grew 5 percent compared to the prior year, to nearly 3.9 million average subscriptions in the quarter. Digital-only subscriptions to The Journal grew 9 percent to 3.3 million average subscriptions in the quarter, and represented 85 percent of total Journal subscriptions.
The earnings release can be found here.
