Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>News Corporation reported strong fiscal 2026 results marked by a continuation of revenue and profit growth across multiple core segments, reflecting its ongoing transformation into a predominantly digital-focused business.</li><li>The company recorded a fourth-quarter revenue increase of 11% to $2.3 billion and a 31% rise in total segment EBITDA to $423 million, representing its 12th consecutive quarter of year-over-year revenue growth and 13th consecutive quarter of EBITDA growth on a continuing operations basis.</li><li>Full-year revenues rose 7% to $9 billion, while total segment EBITDA increased 15% to $1.6 billion, with margins expanding by 130 basis points to 18%.</li></ul>

News Corporation reported strong fiscal 2026 results marked by a continuation of revenue and profit growth across multiple core segments, reflecting its ongoing transformation into a predominantly digital-focused business.The company recorded a fourth-quarter revenue increase of 11% to $2.3 billion and a 31% rise in total segment EBITDA to $423 million, representing its 12th consecutive quarter of year-over-year revenue growth and 13th consecutive quarter of EBITDA growth on a continuing operations basis.Full-year revenues rose 7% to $9 billion, while total segment EBITDA increased 15% to $1.6 billion, with margins expanding by 130 basis points to 18%.

News Corporation’s Dow Jones Powerhouse — 84% Of Revenue Is Already Digital!

<ul><li>News Corporation reported its Fiscal Third Quarter 2026 results, continuing a trend of consistent profitability growth with total revenues increasing 9% year-over-year to $2.2 billion and total segment EBITDA rising 18% to $343 million, representing a margin expansion from 14.4% to 15.7%.</li><li>Net income from continuing operations improved 13%, with both EPS and adjusted EPS showing notable increases.</li><li>The company highlighted its strategic focus on three core segments—Dow Jones, Digital Real Estate Services, and Book Publishing—all delivering double-digit profit growth, illustrating a successful portfolio repositioning amid challenging global economic conditions, including high interest rates and geopolitical tensions.</li></ul>

News Corporation reported its Fiscal Third Quarter 2026 results, continuing a trend of consistent profitability growth with total revenues increasing 9% year-over-year to $2.2 billion and total segment EBITDA rising 18% to $343 million, representing a margin expansion from 14.4% to 15.7%.Net income from continuing operations improved 13%, with both EPS and adjusted EPS showing notable increases.The company highlighted its strategic focus on three core segments—Dow Jones, Digital Real Estate Services, and Book Publishing—all delivering double-digit profit growth, illustrating a successful portfolio repositioning amid challenging global economic conditions, including high interest rates and geopolitical tensions.

News Corporation’s $343 Million EBITDA Surge: Can Margin Expansion Keep Repricing The Story?

Financial News, Analysis and Data, FNArena

FNArena

Financial News, Analysis and Data

Online financial media company focused on Australian equities, with a global perspective

<ul><li>News Corp outperformed analysts' third quarter expectations, led by growth engines Digital Real Estate and Dow Jones.</li><li> News Corp&rsquo;s third quarter &lsquo;beat&rsquo; consensus, alongside early Q4 strength Growth engines Digital Real Estate and Dow Jones are delivering Upside from potential AI licensing deals Buybacks lend further share price support</li></ul>

News Corp outperformed analysts' third quarter expectations, led by growth engines Digital Real Estate and Dow Jones. News Corp&rsquo;s third quarter &lsquo;beat&rsquo; consensus, alongside early Q4 strength Growth engines Digital Real Estate and Dow Jones are delivering Upside from potential AI licensing deals Buybacks lend further share price support

News Corp En Route for Record FY26 Profit

Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SP Select Sector indices are a family of 11 sector-specific indices derived from the SP 500 index based on GICS (Global Industry Classification Standard) classifications.</li>
<li>Large flows in the Communication Services (XLC) Index are driven by a secondary re-weighting triggered after the March 2026 rebalance that we expect to be corrected in June.</li>
<li>Intra-Review changes are expected to trigger an additional US$2.8bn of one-way flows across the Select Sector indices if implemented before the June 2026 regular rebalance.</li>
</ul>


The SP Select Sector indices are a family of 11 sector-specific indices derived from the SP 500 index based on GICS (Global Industry Classification Standard) classifications.
Large flows in the Communication Services (XLC) Index are driven by a secondary re-weighting triggered after the March 2026 rebalance that we expect to be corrected in June.
Intra-Review changes are expected to trigger an additional US$2.8bn of one-way flows across the Select Sector indices if implemented before the June 2026 regular rebalance.


Quiddity Leaderboard SP Select Sector Jun26 Rebal: Over US$10bn One-Way Flow Expected

<ul><li>News Corporation's recent earnings call for the second quarter of fiscal 2026 showcased a mixed yet forward-leaning performance across its diversified portfolio.</li><li>Total company revenues grew by 6% to reach $2.4 billion, while total segment EBITDA rose by 9%, despite a one-time inventory-related charge impacting HarperCollins.</li><li>Net income from continuing operations, however, fell by 21% due to the absence of a significant gain recorded in the previous year.</li></ul>

News Corporation's recent earnings call for the second quarter of fiscal 2026 showcased a mixed yet forward-leaning performance across its diversified portfolio.Total company revenues grew by 6% to reach $2.4 billion, while total segment EBITDA rose by 9%, despite a one-time inventory-related charge impacting HarperCollins.Net income from continuing operations, however, fell by 21% due to the absence of a significant gain recorded in the previous year.

News Corporation: How Dow Jones & Realtor.com Are Rewriting the Media Revenue Playbook!

United States

News Corporation operates in the publishing industry. The Company provides publications consisting of newspapers, magazines, books and promotional inserts.

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News Corp Class B (NWS US)

News Corporation’s Dow Jones Powerhouse — 84% Of Revenue Is Already Digital!

News Corporation reported strong fiscal 2026 results marked by a continuation of revenue and profit growth across multiple core segments,...

Baptista Research

News Corporation’s $343 Million EBITDA Surge: Can Margin Expansion Keep Repricing The Story?

News Corporation reported its Fiscal Third Quarter 2026 results, continuing a trend of consistent profitability growth with total revenues...

Baptista Research

News Corp En Route for Record FY26 Profit

News Corp outperformed analysts' third quarter expectations, led by growth engines Digital Real Estate and Dow Jones. News Corp’s third quarter...

FNArena

Quiddity Leaderboard SP Select Sector Jun26 Rebal: Over US$10bn One-Way Flow Expected

A secondary re-weighting correction is set to drive over US$3.7bn of one-way flows in Communication Services in the June 2026 SP Select Sector...

Anjana Amarasuriya

News Corporation: How Dow Jones & Realtor.com Are Rewriting the Media Revenue Playbook!

News Corporation's recent earnings call for the second quarter of fiscal 2026 showcased a mixed yet forward-leaning performance across its...

Baptista Research

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