Categories: OLD Media Moves

WSJ digital subscribers up 19 percent to 1.8 million

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.

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.