OLD Media Moves

WSJ digital subscribers up 19 percent to 1.8 million

May 9, 2019

Posted by Chris Roush

News Corp., the parent company of The Wall Street Journal, MarketWatch.com and Barron’s, reported third-quarter earnings that were better than expected, but its revenue was lower than expected.

The New York-based company reported net income of $23 million, or 2 cents per share, after the company reported a loss of $1.1 billion, or $1.94 per share, in the third quarter a year ago. The earnings beat Wall Street expectations by 4 cents per share.

Revenue of $2.46 billion, up 17 percent compared to the year-ago quarter, was below estimates of $2.51 billion.

Digital-only subscribers for The Wall Street Journal grew 19 percent in the quarter to a new record of approximately 1.8 million.

Revenue at Dow Jones, the subsidiary that oversees the Journal, MarketWatch and Barron’s grew 1 percent in the quarter, but advertising revenue fell 8 percent. Circulation revenue at Dow Jones grew 7 percent in the quarter.

Digital accounted for 55 percent of Dow Jones’ revenue.

To read more, go here.

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