News Corporation has announced an ongoing share repurchase initiative, as part of its $1 billion stock buyback program. The company, which is listed on the Nasdaq Global Select Market under the tickers NASDAQ:NWSA for Class A common stock and NASDAQ:NWS for Class B common stock, has been authorized to buy back shares of its Class A and Class B common stock from time to time.
The repurchase program was detailed in the company's recent Form 8-K filing with the U.S. Securities and Exchange Commission. Under the rules of the Australian Securities Exchange, News Corp (NASDAQ:NWSA) must provide daily disclosures of any transactions made under this program. The latest 8-K filing, dated November 27, 2024, includes the company's commitment to continue repurchasing shares, which is a common practice companies use to return value to shareholders.
The information provided to the Australian Securities Exchange, attached as exhibits to the filing, contains forward-looking statements regarding the company's intent to buy back shares. These forward-looking statements are based on current expectations and are subject to change. Factors such as market price fluctuations, market conditions, securities laws, and alternative investment opportunities could influence the actual results of the repurchase program.
Investors are advised that the forward-looking statements are only valid as of the date of the report, and the company has no obligation to update any statements to reflect events or circumstances after the date of the report, except as required by law.
This repurchase program is part of News Corp's broader strategy to manage its capital effectively. The company's filings with the SEC provide additional information on the risks, uncertainties, and other factors that could impact the program's outcomes.
The news is based on the latest SEC filing by News Corporation and serves as a factual update on the company's financial activities as they relate to its stock repurchase program.
In other recent news, News Corp continues its stock repurchase program, nearing the authorized limit of $1 billion for its Class A and Class B common stock. This is part of a strategic effort to enhance shareholder value. In financial updates, the company's first quarter of fiscal year 2025 shows significant growth, with revenue increasing by 3% year-over-year to $2.58 billion. Profitability improved by 14% to $415 million, and net income surged to $144 million. Earnings per share climbed to $0.21, a substantial rise from $0.05 the previous year. However, News Media revenues saw a 5% decline to $521 million. These recent developments highlight the company's ongoing financial and strategic operations.
InvestingPro Insights
News Corporation's ongoing share repurchase initiative aligns with its strong financial position and market performance. According to InvestingPro data, the company boasts a market capitalization of $17.16 billion, reflecting its significant presence in the media industry. The stock's impressive year-to-date price total return of 20.17% and one-year price total return of 31.77% suggest that investors have been responding positively to the company's strategies, including its buyback program.
InvestingPro Tips highlight that News Corp has demonstrated consistent revenue growth, with a 2.66% increase in the last twelve months as of Q1 2025. This growth trend supports the company's ability to fund its share repurchase program while maintaining operational investments. Additionally, the company's price is near its 52-week high, currently at 97.47% of that peak, indicating strong market confidence.
For investors seeking a deeper understanding of News Corp's financial health and future prospects, InvestingPro offers 14 additional tips that could provide valuable insights into the company's investment potential. These tips, along with real-time metrics, can help investors make more informed decisions about News Corp's stock in the context of its ongoing buyback program.
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