Dow Jones & Co. CEO Almar Latour despatched out the next to the workers on Friday:
Colleagues,
I’m happy to share that Dow Jones delivered document income and document income in FY23, underscoring continued power in our core enterprise of client and company subscriptions.
FY23 income was the best on document since Dow Jones was damaged out as a phase, and profitability was the best since our acquisition in 2007 — a direct results of your wonderful work, your dedication to our mission, and the exhausting work that goes into making ready Dow Jones and The Wall Road Journal for the longer term.
Beneath are some extra detailed highlights from FY23:
Reported Dow Jones Section EBITDA was the best on document, up 14% from the prior yr to achieve $494 million.
Complete 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 whole Dow Jones client subscriptions rose 7% in This autumn versus the prior yr on account of WSJ and Barron’s Group digital. WSJ digital-only subscriptions rose 10%, and whole 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 Danger & Compliance.
Our Danger & Compliance enterprise continues to develop as full-year income was up 11% from the prior yr regardless of detrimental forex influence 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 place to make FY24 a good stronger yr. Subscriptions – each client and company – will proceed to be our high precedence as we goal to deliver trusted enterprise information and intelligence to our clients.
The yr to come back will deliver its personal set of challenges, not least of which might be our continued battle to free our colleague Evan Gershkovich, who stays in jail. I do know Dow Jones and The Wall Road Journal will rise to the event.
We sit up for discussing extra at our subsequent All-Arms assembly on Thursday, August 17 at 8:30 a.m. EDT.
Thanks, as ever, to your exhausting work and dedication to Dow Jones.
Almar
