News Corp, the global media and information services company, has continued its stock repurchase program, as detailed in a recent 8-K filing with the Securities and Exchange Commission. The company, which is traded on the Nasdaq Global Select Market under the tickers NASDAQ:NWSA for Class A Common Stock and NASDAQ:NWS for Class B Common Stock, is authorized to buy back up to $1 billion of its outstanding shares.
The repurchase program, which was previously reported, allows for the buyback of both Class A and Class B common stock. In compliance with the Australian Securities Exchange (ASX) rules, News Corp provides daily updates on the repurchase transactions, if any, to the ASX. This information is also included in the company's quarterly and annual reports.
The 8-K filing, dated Monday, November 25, 2024, includes exhibits with the information provided to the ASX. These exhibits contain forward-looking statements regarding the company's intention to repurchase its shares from time to time.
However, these statements are subject to change due to various factors, including market conditions, share price fluctuations, applicable laws, and other investment opportunities.
News Corp's filings with the SEC further detail the risks and uncertainties that may affect the actual results of the repurchase program. The forward-looking statements are valid as of the report's date, and the company does not commit to updating these statements publicly, except as required by law.
The repurchase program is part of News Corp's broader strategy to manage its capital and return value to its shareholders. The company's business address is at 1211 Avenue of the Americas, New York, NY, and it operates under Delaware incorporation.
The information in this article is based on the press release statement and the SEC filing by News Corp. (NASDAQ:NWSA)
In other recent news, News Corporation continues to execute its stock repurchase program, nearing its authorized limit of $1 billion for its Class A and Class B common stock. This action is part of News Corp's ongoing strategy to enhance shareholder value.
The company's financial performance for the first quarter of fiscal year 2025 shows a significant increase, with revenue rising 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 are recent developments in the company's financial and strategic operations.
InvestingPro Insights
News Corp's ongoing stock repurchase program aligns with its strong financial position and commitment to shareholder value. According to InvestingPro data, the company boasts a market capitalization of $17.25 billion, reflecting its significant presence in the media and information services sector. News Corp's revenue for the last twelve months as of Q1 2025 stood at $10.16 billion, with a modest growth of 2.66% year-over-year, indicating steady performance in a competitive industry.
InvestingPro Tips highlight News Corp's financial strength and market performance. One tip notes that the company has demonstrated consistent earnings per share growth, which supports its ability to continue the share buyback program. Another tip points out that News Corp's stock has outperformed the market over the past year, with a one-year price total return of 34.87% as of the latest data.
These insights suggest that News Corp's repurchase program is backed by solid financial fundamentals and positive market sentiment. Investors interested in a deeper analysis can access additional tips and metrics through InvestingPro, which offers 14 more tips for News Corp to further inform investment decisions.
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