News Corporation released earnings for the Second Quarter of FY2023

News Corporation (ASX: NWS) reported financial results for the three months that ended 31 December 2022 as follows:

• The company announced sales of AU$2.52 billion for the second quarter of fiscal 2023, a 7% decline from AU$2.72 billion in the same time the previous year. The reduction was principally brought on by a negative impact of AU$171 million, or 6%, from changes in foreign exchange rates, and adjusted revenue fell by 3%.
• Net income was AU$94 million in the quarter, compared to AU$262 million the previous year.
• Comparing the quarter to the preceding year, total segment EBITDA was AU$409 million, down from AU$586 million.
• Adjusted EPS for the quarter was AU$0.14 compared to AU$0.44 in the prior year, while reported EPS for the quarter was AU$0.12 compared to AU$0.40 in the previous year.

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