News Corp Stock Price, News & Analysis

News Corp has announced that CEO Robert Thomson will participate in the Goldman Sachs Communacopia + Technology Conference on September 14, 2022. The session is scheduled to start at 12:15 PM EDT (9:15 AM PDT). A live webcast will be available on the News Corp website, and a replay is expected to be accessible afterward. News Corp, trading under NWS and NWSA, is a global media company focused on diverse content creation and distribution, operating primarily in the US, Australia, and the UK.

In August 2022, the U.S. housing market saw a 5-day increase in the time homes spent on the market compared to last year, marking the first uptick since June 2020. Despite this, homes sold 22 days faster than the 2017-2019 average. The median listing price reached $435,000, up 14.3% year-over-year, while active listings surged by 26.6%. However, new listings dropped 13.4%, indicating seller hesitation. Mortgage payments rose 61%, contributing to a 21.9% decline in pending listings.

The Realtor.com® Monthly Rental Report reveals significant trends in U.S. rental prices as of July 2022. The median rent reached an all-time high of $1,879, with a notable 12.3% increase year-over-year. Renters faced an average hike of $160 when renewing leases and $300 when moving. While suburban rents have caught up to urban prices, landlords are beginning to adjust to rising tenant budget constraints. Despite inflation pressures, the rate of rent growth is moderating, indicating potential relief ahead for renters.

Realtor.com® has unveiled its 2022 Hottest ZIP Codes, with New England dominating the list. Homes in these areas sold in an average of just 8 days, attracting nearly 4 times more buyer views than typical listings. The report highlights Nashua, NH, and Brighton, NY, as top contenders. New insights, called 'Hot Market Insights', will assist buyers in understanding local markets and competition. Factors driving demand include affordability and proximity to major cities. The average asking price in the hottest ZIPs is 4% lower than the U.S. median, reflecting buyer preferences for value amidst rising costs.

In July 2022, U.S. active home listings surged by 30.7% year-over-year, marking the third consecutive month of record growth. Despite this increase, the housing market remains largely in sellers' favor due to near-record high listing prices, with a median listing price of $449,000, reflecting a 16.6% annual rise. New listings declined by 2.8% from the prior year.

Softening buyer interest, driven by elevated mortgage rates, has prompted sellers to reconsider their market strategies. However, demand from out-of-state buyers persists, indicating ongoing competition.

News Corporation reported record fiscal 2022 results with revenues of $10.39 billion, a 95% increase in net income to $760 million, and a segment EBITDA of $1.67 billion, up 31%. The fourth quarter witnessed a 7% revenue increase to $2.67 billion and net income of $127 million, compared to a loss in the previous year. Digital Real Estate Services revenues grew 25%, aided by acquisitions, while News Media segment EBITDA jumped to $217 million. A dividend of $0.10 per share has been declared, payable on October 12, 2022.

Realtor.com has launched a new buying power tool aimed at helping home shoppers filter listings based on affordability. This innovative feature allows users to categorize homes as 'affordable,' 'a stretch,' 'difficult,' or 'out of reach' by inputting their financial details, current mortgage rates, and associated costs. Surveys indicate that 68% of shoppers are surprised by their affordability, with many unaware of hidden costs like taxes and HOA fees. This tool empowers buyers to make informed decisions amidst rising interest rates and increases transparency in the home-buying process.