WSJ parent reports decline in revenue, profit
News Corp., the parent company of The Wall Street Journal, MarketWatch.com and Barron’s, reported second-quarter earnings and revenue fell, but matched analyst expectations.
The news and information division of the company, which includes the business news operations, saw revenue fall 1 percent to $1.24 billion.
Dow Jones’ consumer products saw a 5 percent increase in circulation revenues, due to a 17 percent digital paid subscriber growth and subscription price increases. Dow Jones’ consumer products reached 3.4 million total subscribers, reflecting an 8 percent increase compared to the prior year.
The results also reflect an 8 percent increase in revenues at Dow Jones’ Professional Information Business.
At Dow Jones, digital accounted for 57 percent of its circulation revenues.
The Wall Street Journal average daily digital subscribers in the three months ended Dec. 31, 2019 were 1,929,000, compared to 1,709,000 in the prior year.
The earnings release can be found here.