Dow Jones & Co. CEO Almar Latour despatched out the next to the employees on Friday:
I’m happy to share that Dow Jones delivered report earnings and report income in FY23, underscoring continued power in our core enterprise of shopper and company subscriptions.
FY23 income was the best on report since Dow Jones was damaged out as a section, and profitability was the best since our acquisition in 2007 — a direct results of your glorious work, your dedication to our mission, and the laborious work that goes into making ready Dow Jones and The Wall Avenue Journal for the longer term.
Beneath are some extra detailed highlights from FY23:
Reported Dow Jones Phase EBITDA was the best on report, up 14% from the prior yr to achieve $494 million.
Whole income in FY23 was $2.153 billion, up 7% from the prior yr and in addition our second-consecutive yr eclipsing $2 billion in income.
Information subscriptions development continues, as complete Dow Jones shopper subscriptions rose 7% in This fall versus the prior yr resulting from WSJ and Barron’s Group digital. WSJ digital-only subscriptions rose 10%, and complete Dow Jones digital-only subscriptions grew 12%.
Our B2B enterprise continues to thrive, rising 31% pushed by the acquisitions of OPIS and CMA, in addition to the expansion of Threat & Compliance.
Our Threat & Compliance enterprise continues to develop as full-year income was up 11% from the prior yr regardless of unfavorable foreign money affect from worldwide enterprise publicity and the absence of a further week included within the prior fiscal yr.
Promoting income was down 8% in comparison with the prior yr pushed primarily by ongoing macroeconomic situations.
All in all, final yr’s efficiency places us in a great place to make FY24 an excellent stronger yr. Subscriptions – each shopper and company – will proceed to be our prime precedence as we purpose to deliver trusted enterprise information and intelligence to our prospects.
The yr to come back will deliver its personal set of challenges, not least of which might be our continued struggle to free our colleague Evan Gershkovich, who stays in jail. I do know Dow Jones and The Wall Avenue Journal will rise to the event.
We look ahead to discussing extra at our subsequent All-Palms assembly on Thursday, August 17 at 8:30 a.m. EDT.
Thanks, as ever, in your laborious work and dedication to Dow Jones.