Short answer
News Corp (Class B) (NWS) filed its fiscal 2026 10-K annual report with the SEC on Aug 7, 2026. It reported revenue of $9.0B (+6.8% year over year) and net income of $573M.
- Top risk flagged: Regulatory risk: Australian housing reform legislation may impact listing volumes and Digital Real Estate Services segment in Australia
FY2026 key financial metrics · XBRL
- Revenue
- $9.0B
- +6.8% YoY
- Net income
- $573M
- −51.4% YoY
- EPS (diluted)
- $1.03
- −50.2% YoY
- ROE
- 6.7%
- −6.7 pp YoY
- Operating cash flow
- $1.2B
- +26.5% YoY
Source: XBRL data from the News Corp (Class B) (NWS) FY2026 10-K on SEC EDGAR. USD.
News Corp (Class B) FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Global diversified media and information services with news, digital real estate, book publishing, and advertising under premium brands
- New product emphasis: Launch of Realtor.com+ collaborative home search platform and AI-powered conversational search in REA Group's real estate services
- Strategic shift: Accelerated digital monetization leveraging AI and partnerships with large tech and AI platforms across segments
- Quantitative highlight: Employee count approx. 21,700 with digital-only subscriptions for Dow Jones news products totaling 6.258 million as of June 30, 2026
- Noteworthy fact: July 2026 agreement to sell REA India, signaling focus on core markets and portfolio optimization
Management Discussion & Analysis
- Revenue $9.03B, up 7% YoY ($576M increase) driven by Digital Real Estate, Dow Jones circulation & advertising, Book Publishing sales, News Media FX benefits
- Operating margin 18.0% (Segment EBITDA $1.63B / Revenue $9.03B) vs 16.7% (Segment EBITDA $1.42B / Revenue $8.45B); Dow Jones best segment EBITDA growth +13% ($75M)
- Digital Real Estate Services best revenue growth +12% ($214M) and EBITDA growth +23% ($140M); Book Publishing EBITDA declined 3% ($9M), News Media EBITDA fell 9% ($14M)
- Cash & equivalents $2.1B; Free cash flow $811M up from $571M; Share repurchases $641M FY26, dividends $112M; Capex $426M FY26 up $19M YoY
- 2026 Credit Agreement secured $1.5B credit facilities with extended maturities; Management cites inflation, FX impacts and real estate macro risks, monitors geopolitical tensions and AI impact on advertising as key risks
Risk Factors
- Regulatory risk: Australian housing reform legislation may impact listing volumes and Digital Real Estate Services segment in Australia
- Macroeconomic risk: High U.S. home prices, low inventory, and elevated rates hurt U.S. real estate market and Digital Real Estate Services in fiscal 2026
- Supply chain risk: Dependence on Amazon Web Services and Google for cloud and enterprise services poses operational vulnerability to outages or term changes
- Competitive risk: AI-powered content distribution platforms and digital marketplaces like social media reduce traffic, demand and pricing for News Corp’s digital products
- Financial risk: $2.0B total debt with $1.1B undrawn commitments as of June 30, 2026, with covenants and refinancing constraints limiting financial flexibility
Generated from the filing text; verify against the original. How to read a 10-K
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