News Corp. has been beneficial in the fourth fiscal quarter thanks to strong performance of its cable networks and advertising revenue growth of its newspapers.
The media company posted a profit of 875 million, or 33 cents per share for the quarter ended June 30, against a loss of 203 million (eight cents per share) a year ago when News Corp recorded a asset impairment charge.
Turnover rose 5% to 8.11 billion dollars. The Thomson Reuters consensus I / B / E / S gave a turnover of 8.05 billion.
Action News Corp. gained 2.9% to 14.25 dollars after the close of Wall Street, in response to these results.It grew by 12% since the beginning of the year, while the S & P movies and entertainment took 8% in the same time.
Rebound in advertising revenue and lower costs led to a growth in operating income by 20% in the press in the U.S. and internationally. The operating profit of its cable division has increased 31%.
In contrast, there was decline results from the satellite television and commercial services, and loss of the digital divide, including social network MySpace.
