News Corp. posts higher 2Q earnings, revenue

Media conglomerate News Corp. says earnings for the last three months of 2012 grew, helped by higher revenue at its pay TV networks and gains from acquisitions.

The company, which is controlled by CEO Rupert Murdoch, said Wednesday that it earned $2.38 billion, or $1.01 per share, in the fiscal second quarter. That's up from $1.06 billion, or 42 cents per share, a year earlier.

Revenue was $9.43 billion, up 5 percent from $8.98 billion. The company says its cable network business helped grow revenue.

Analysts polled by FactSet were expecting earnings of 43 cents per share on revenue of $9.26 billion.

News Corp. is planning to split into two companies this year—one for publishing and the other for the TV and movie businesses.

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