News (NWSA) FY2023 results: revenue $8.0 billion, down 5.0% on the year

News Corp. (NWSA) reported revenue of $8.0 billion for fiscal 2023, the year ended 30 June 2023, down 5.0% on the year before. Net income was $149 million, down 76.1%, and diluted earnings per share $0.26. The figures are the company's own, from the 10-K it filed with the SEC on 15 August 2023.

Revenue

$8.0 billion

-5.0% on the year

FY2016FY2023

Operating margin

n/a

FY2016FY2023

Net income

$149 million

-76.1% on the year

FY2016FY2023

Diluted EPS

$0.26

-75.2% on the year

FY2016FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ million	FY2023	FY2022	FY2021	On the year
Revenue	8,012	8,437	9,358	-5.0%
Selling, general and administrative	3,012	3,221	3,254	-6.5%
Pre-tax income	380	837	450	-54.6%
Income tax	152	64.0	61.0	+137.5%
Effective tax rate	40.0%	7.6%	13.6%
Net income	149	623	330	-76.1%
Net margin	1.9%	7.4%	3.5%
Diluted EPS	$0.26	$1.05	$0.56	-75.2%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2023	FY2022	FY2021	On the year
Operating cash flow	1,092	1,354	1,237	-19.4%
Capital expenditure	347	310	390	+11.9%
Free cash flow	745	1,044	847	-28.6%
Free cash flow margin	9.3%	12.4%	9.1%
Cash from investing	-574	-2,076	-1,292
Cash from financing	-501	404	699
Depreciation and amortisation	415	372	680	+11.6%
Share-based compensation	87.0	57.0	128	+52.6%
Buybacks	243	179	0.0	+35.8%
Dividends paid	174	175	163	-0.6%
Diluted shares, weighted	579m	592m	593m	-2.3%

Balance sheet

$ million	FY2023	FY2022	FY2021	On the year
Shareholders' equity	8,064	8,222	8,211	-1.9%
Non-controlling interest	881	921	935	-4.3%
Debt	2,967	3,069	2,313	-3.3%
Operating lease liabilities	996	947	1,116	+5.2%
Other liabilities	4,013	4,062	4,196	-1.2%
Total liabilities and equity	16,921	17,221	16,771	-1.7%
Fixed assets	1,281	2,103	2,272	-39.1%
Goodwill	4,291	4,300	4,653	-0.2%
Intangible assets	2,060	2,671	2,179	-22.9%
Investments	427	488	351	-12.5%
Cash and equivalents	1,761	1,771	2,236	-0.6%
Receivables	1,347	1,502	1,498	-10.3%
Inventory	290	311	253	-6.8%
Other assets	5,464	4,075	3,329	+34.1%
Total assets	16,921	17,221	16,771	-1.7%

10-K for the year ended 30 June 2023, filed 15 August 2023: the filing.