WSJ parent reports better-than-expected earnings
News Corp., the parent of The Wall Street Journal, Barron’s and MarketWatch.com, reported better-than-expected earnings, helped by an a rise in digital subscriptions at Dow Jones.
The Journal subscribers reached a record of 2.6 million with digital-only subscribers accounting for approximately 69 percent of the total subscriber base. The Journal is part of Dow Jones.
In the news and information division, circulation and subscription revenues were flat compared to the prior year, including a $17 million, or 3 percent, negative impact from foreign currency fluctuations.
Circulation and subscription revenues again benefited from a healthy contribution from Dow Jones, which again saw a 7 percent increase in its circulation revenues, reflecting digital paid subscriber growth of 14 percent and subscription price increases at The Journal, as well as the continued growth in its Risk & Compliance products.
Dow Jones’ consumer products reached approximately 3.3 million total subscribers, a 9 percent increase compared to the prior year.
For the quarter, digital revenues for Dow Jones and the newspaper mastheads represented 37 percent of their combined revenues, and at Dow Jones, digital accounted for 55 percent of its circulation revenues.
The Journal average daily digital subscribers in the three months ended June 30 were 1,818,000, compared to 1,590,000 in the prior year.
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