News Corp's AI Future: Digital Is Up, Profit Is Down As Murdoch Looks To Cut Costs
Portfolio Pulse from Anthony Noto
News Corp (NASDAQ:NWS) is planning to leverage artificial intelligence (AI) to create a new stream of revenues and reduce costs across the business. This comes after a disappointing Q4 earnings report, with net profit for the financial year recorded at $187 million, down from the previous year’s $760 million. The company's digital revenues accounted for more than 50% of total revenues for the full year. News Corp and its sister company, Fox Corp. (NASDAQ:FOX), are under increasing scrutiny, with Fox recently ordered to pay $787.5 million in damages to settle a defamation lawsuit.
August 11, 2023 | 3:59 pm
News sentiment analysis
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NEGATIVE IMPACT
Fox Corp's recent legal issues and the increasing scrutiny of its leadership could impact the company's stock in the short term.
Fox Corp's recent legal issues and the increasing scrutiny of its leadership could lead to uncertainty among investors, potentially impacting the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80
NEGATIVE IMPACT
News Corp's disappointing Q4 earnings and the shift towards AI could impact the company's stock in the short term.
News Corp's disappointing Q4 earnings and the shift towards AI could lead to uncertainty among investors, potentially impacting the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100