News Corp. (ASX:NWS) reported a "strong" December quarter, that beat expectations, according to a Thursday note by Euroz Hartleys.
The company reported revenue for the three months ended Dec. 31, 2024, was $2.24 billion, up 5% from $2.14 billion in the same period a year earlier, and 1.8% higher than Jarden's $2.2 billion guidance.
Group earnings before interest, taxes, depreciation, and amortization was up 20.7% to $478 million, 12% above Jarden's $424 million estimate, the investment and advisory group noted.
News Corp. noted solid progress with its partnership with OpenAI and is optimistic other artificial intelligence companies may adopt a similar strategy.
Jarden Research has an overweight rating for News Corp. with a price target of AU$50.30.
Shares of the company rose 5% in recent Thursday trade.
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