News Corp DR

NWS: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$88.70	Gbn	Szbpxrwlx

News Earnings: Dow Supremacy and Book Recovery Overcome Near-Term Noise

Brian Han

Nov 10, 2023

News Corp is tracking broadly in line with our unchanged earnings forecasts, and we retain our USD 21.00 per share (or AUD 32.80 at current exchange rates) fair value estimate. Granted, the 3% rise in fiscal 2024 first-quarter adjusted EBITDA to USD 367 million was below the 7% growth we are projecting for the full year. However, much of the difference can be attributed to short-term "noise."

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