Company Interview / Market Update | Domain, Macquarie, REA, QBE, NewsCorp

Domain (ASX: DHG) has struck a binding deal with US property giant CoStar to sell all its remaining shares at $4.43 each — that’s a 42 percent premium on the pre-offer price. The agreement values Domain at around 3 billion dollars. Media company Nine, which holds a 60 percent stake, is expected to pocket 1.4 billion dollars after capital gains tax. In a statement to the ASX, Nine gave the green light to the sale, saying the offer “appropriately reflects the strategic value” of its investment.

Macquarie (ASX: MQG) has posted a 5% rise in full year profit to $3.7 billion. The group will distribute a final ordinary dividend of $3.90, bringing total dividend to $6.50 for the year. Assets Under Management marginally increased year-on year. Macquarie has not provided specific guidance, but noted that 66% of its total income came from oversea markets in the past year, and says geopolitics and global economic conditions can influence its short-term outlook.

REA Group (ASX: REA) has reported an 18% rise in revenue in the nine months to March of $1.25 billion. Revenue in the quarter rose 12% to $374 million. CEO Owen Wilson says the first rate cut in four years, combined with expectations of more to come, spurred buyer demand and supported house price growth across the country.

QBE (ASX: QBE) has reiterated its full-year outlook -- expecting FY25 gross written premium growth in the mid-single digits...And says premium growth has continued as markets conditions generally remain supportive despite catastrophic activity driven by LA wildfires, Cyclone Alfred and flooding in Queensland. Investment returns for the quarter hit $346 million owing to favourable interest rates and strong performance from risk assets.

And NewsCorp (ASX: NWS) CEO Robert Thomson has called President Trump's agenda an "economic slap in the face". NewsCorp reported a 1% rise in third quarter revenue to US$2.01 billion ... driven by the growth of Dow Jones, Digital Real Estate Services and Book Publishing. Net income from continuing operations in the quarter was US$107 million, a 67% increase compared to $64 million in the prior year.