• by Ray Schultz , May 8, 2024

Publisher Dow Jones generated $544 in revenue in its Q3, a 3% increase YoY. Digital revenue accounted for 81% of this, a 2% hike over Q3 2023.  

Digital advertising rose by 4%, while continued declines in print lowered total ad revenue by 2%.

The company’s overall B2B business grew by 10% to $214 million, based on 15% growth in Dow Jones Risk & Compliance to $76 million, and a 15% hike in Dow Jones Energy to $63 million.

Dow Jones now has 5.7 million total news subscriptions, up 12% YoY, an increase of  322,000 during the quarter. Average daily subscriptions hit 5 million for the first time during Q3, almost double that of four years ago.

At the same time, parent News Corp. achieved Q3 revenue of $2.42 billion, a 1% decrease from the prior year, reflecting a negative impact from foreign currency fluctuations.  

Net income totaled $42 million, a 29% decrease YoY, mostly due to factors such as higher impairment and restructuring charges and higher depreciation and amortization expenses.  

“We are in the midst of an exponential digital revolution, and our own company has continued to change significantly and profitably,” says Chief Executive Robert Thomson.  

Thomson adds: “Importantly, we are working to promote our quality journalism in the age of Generative AI and are gratified that the most enlightened leaders in the industry appreciate the commercial and social value of that content.”