News Corp beats fourth-quarter revenue estimates by Reuters

(Reuters) – Media conglomerate News Corp (NASDAQ: ) beat Wall Street estimates for fourth-quarter revenue on Thursday, helped by growth in digital subscriptions to its Dow Jones business intelligence unit.

Revenue in the quarter ended June 30 rose 6 percent to $2.58 billion, compared with an estimate of $2.49 billion, according to LSEG data.

Part of media mogul Rupert Murdoch’s empire, News Corp has benefited from its thriving business news unit, Dow Jones, which includes top publications such as The Wall Street Journal, Barron’s and Market Watch.

London Stock Exchange Group (LON: ) signed a multi-year news and data partnership with Dow Jones last month. Sam Altman-led OpenAI has also partnered with the media company for access to its news content.

Revenue at Dow Jones rose 4% to $566 million due to higher circulation and subscription revenues.