News Corp. net profit up 36 percent

November 3, 2010
A News Corporation display showcases the many companies that make up the group. News Corp. said Wednesday that net profit rose 36 percent in the first quarter of its 2011 fiscal year to 775 million dollars.

News Corp. said Wednesday that its net profit rose 36 percent in the first quarter of its 2011 fiscal year to 775 million dollars, beating the expectations of Wall Street analysts.

Revenue at the Rupert Murdoch-owned media and entertainment giant rose to 7.4 billion dollars in the quarter which ended on September 30 from 7.2 billion dollars a year ago.

"Our global cable network programming business continues to lead News Corporation's financial and operational momentum," Murdoch, News Corp.'s chairman and chief executive, said in a statement.

"With continued subscriber growth in new and established channels throughout the world, and a global advertising recovery, our domestic and international channels now account for 25 percent of our revenues," he said in a statement.

"At the same time, our television segment enjoyed significant operating income growth compared to the first quarter a year ago as local ad markets continue to rebound," Murdoch said.

"Our publishing segment also showed expanded operating income, benefiting from greater and operational efficiencies at our newspapers," he added.

. shares were up 2.09 percent at 15.15 dollars in after-hours trading.

Explore further: News Corp. posts flat third quarter

Related Stories

News Corp. posts flat third quarter

May 7, 2009

Media giant News Corp. reported a flat quarterly net profit of 2.7 billion dollars on Wednesday as one-time items helped compensate for a slide in advertising revenue.

Washington Post stems tide of red ink

July 31, 2009

The Washington Post Co. reversed its slide and posted a quarterly profit on Friday despite a steep decline in advertising revenue at its flagship newspaper.

News Corp. net profit up on movie, cable TV showing

November 4, 2009

Global media giant News Corp. posted an 11 percent rise in quarterly net profit on Wednesday as strong results from its movie, cable television and book publishing divisions offset a newspaper slump.

Content is 'electronic emperor' says Murdoch

February 3, 2010

Buoyed by a box office hit in "Avatar" and better-than-expected profits, News Corp.'s Rupert Murdoch has predicted a rosy future for content companies such as his media and entertainment giant.

Recommended for you

Toyota promises better mileage and ride with Prius hybrid

October 13, 2015

Toyota Motor Corp. released details for its fourth-generation Prius on Tuesday, promising that improvements in the battery, engine, wind resistance and weight mean better mileage for the world's top-selling hybrid car.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.