NEWS CORP (NWS) [Rocket]

In millions, except per share items	Jun-30-23	Mar-31-23	Dec-31-22	Sep-30-22	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21
	10-K	10-Q	8-K	10-Q	10-K	10-Q	10-Q	10-Q
Revenues:
Circulation and subscription				4,459	4,425	4,346	4,323	4,281
Advertising				1,822	1,821	1,782	1,738	1,667
Other	5,294	5,432		4,080	4,139	4,075	3,985	3,795
Total revenues [+]	9,879	10,120	10,165	10,361	10,385	10,203	10,046	9,743
Advertising			464
Other			159
Revenue growth [+]	-4.9%	-0.8%	1.2%	6.3%	11.0%	16.1%	15.2%	10.9%
Circulation and subscription				4.2%	5.2%	8.3%	10.7%	10.8%
Advertising				9.3%	14.2%	19.9%	3.0%	-13.0%
Cost of goods sold	5,124	5,208	2,676	103	-2,414	-2,486	-54	27
Gross profit	4,755	4,912	7,489	10,258	12,799	12,689	10,100	9,716
Gross margin	48.1%	48.5%	73.7%	99.0%	123.2%	124.4%	100.5%	99.7%
Selling, general and administrative [+]	3,335	3,518	3,565	3,599	3,592	3,587	3,550	3,417
Sales and marketing		2,514	2,561	2,595		2,588	2,551	2,418
General and administrative	821				1,004
Equity in earnings	69	-12	-18	17	13	66	67
Other operating expenses	65	-39		4,976	7,455	7,513	5,030	4,862
EBITDA [+]	1,424	1,421	1,477	1,700	1,765	1,655	1,587	1,501
EBITDA growth	-19.3%	-14.1%	-6.9%	13.3%	28.3%	-1.8%	-41.7%	-42.0%
EBITDA margin	14.4%	14.0%	14.5%	16.4%	17.0%	16.2%	15.8%	15.4%
Depreciation and amortization	714	719	708	702	688	681	682	681
EBIT [+]	710	702	769	998	1,077	974	905	820
EBIT growth	-34.1%	-27.9%	-15.0%	21.7%	54.7%	-4.7%	-56.3%	-57.8%
EBIT margin	7.2%	6.9%	7.6%	9.6%	10.4%	9.5%	9.0%	8.4%
Non-recurring items [+]	281	165	189	216	218	314	300	300
Asset impairment	131	73		108	109	157	150	150
Interest expense	100	109	109	104	99	89	76	67
Interest expense	100	109	109	104	99	89	76	67
Other income (expense), net	1	-101	-102	-103	52	154	202	263
Pre-tax income	330	327	369	575	812	725	731	716
Income taxes	143	-19	-22	16	52	107	121	107
Tax rate		-5.8%	-6.0%	2.8%	6.4%	14.8%	16.6%	14.9%
Minority interest	11	52		92	137	119	114	117
Net income	149	267	299	467	623	499	496	492
Net margin	1.5%	2.6%	2.9%	4.5%	6.0%	4.9%	4.9%	5.0%

Basic EPS [+]	$0.34	$0.61	$0.68	$0.79	$1.05	$0.84	$0.84	$0.83
Growth	-67.4%	-27.6%	-19.0%	-4.6%	88.7%	-1039.9%	-157.3%	-148.6%
Diluted EPS [+]	$0.34	$0.61	$0.68	$0.79	$1.05	$0.84	$0.83	$0.83
Growth	-67.4%	-27.5%	-18.9%	-4.6%	88.6%	-1038.0%	-157.1%	-148.4%

Dividends per share [+]	$0.27	$0.27		$0.30	$0.30	$0.29	$0.29	$0.29
Growth	-9.7%	-6.9%	-4.6%	5.8%	7.3%	6.6%	7.3%	8.5%

Shares outstanding (basic) [+]	433	437	440	588	591	591	591	591
Growth	-26.6%	-26.1%	-25.6%	-0.5%	0.0%	0.2%	0.4%	0.4%
Shares outstanding (diluted) [+]	435	438	442	591	593	594	594	594
Growth	-26.7%	-26.1%	-25.6%	-0.5%	0.1%	0.4%	0.7%	0.7%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.