News Corp Q1 Profits Surge; Legal Action Initiated

News Corp reported a record first-quarter revenue of $2.58 billion, surpassing Wall Street expectations, driven by significant growth in its digital real estate services, book publishing, and Dow Jones segments. The company posted a net income of $144 million, up 148% from the previous year, with earnings per share at $0.21, exceeding analysts' predictions of $0.16. The Dow Jones segment, including The Wall Street Journal, saw a notable rise in content licensing and digital subscriptions. News Corp's CEO, Robert Thomson, attributed these results to the successful transformation of the company over the past decade, despite challenging macroeconomic conditions. The company has also initiated legal action against Perplexity AI for allegedly using its copyrighted content unlawfully. Additionally, News Corp announced the upcoming departure of CFO Susan Panuccio.