News Corporation Advances $1 Billion Buyback Program After Earnings Beat

News Corporation has spent approximately US$574,365,655 to repurchase Class A and Class B common stock under its US$1 billion program authorized on July 15, 2025. Disclosures filed with the Australian Securities Exchange show that consideration reached US$377,171,863.40 in the latest notice, following US$196,077,565.27 reported in an earlier notice. The program is limited to Nasdaq-listed shares, leaving ASX-listed CHESS Depositary Interests excluded from repurchases.

The buyback updates follow the release of the media company's quarterly financial results on Wednesday, November 4th. For the quarter, News Corporation reported revenue of $2.28 billion, reflecting a 6.4% increase from the prior year and matching consensus projections. Adjusted earnings per share reached $0.28, exceeding Wall Street expectations of $0.26. Adjusted EBITDA arrived at $392 million, while free cash flow finished at negative $89 million, down from $4 million during the identical period in the prior year.

Institutional investors have continued to adjust their stakes in the company, with overall institutional ownership at 66.97%. Recent third-quarter disclosures show CenterBook Partners LP started a new position by acquiring 100,177 shares valued at around $2.87 million. Additionally, Asset Management One Co. Ltd. established a new holding of 155,925 shares worth approximately $4.47 million, while Robeco Institutional Asset Management B.V. took a new stake valued at roughly $79,840,000.

Sell-side analysts maintain a Moderate Buy consensus on the stock, based on data compiled by MarketBeat, with six Buy ratings and one Hold rating. Average price targets tracked by MarketBeat sit at $37.80. Recent firm commentary includes an outperform rating and $35.00 price target initiated by Raymond James Financial, while JPMorgan Chase & Co. previously raised its price objective from $36.00 to $38.00 with an overweight rating.