News Corp. quarterly net profit up 65%
News Corp. said Wednesday that its net profit rose 65 percent in the second quarter of its fiscal year to $1.06 billion.
Revenue at Rupert Murdoch's media and entertainment empire was up two percent in the quarter over the same quarter a year ago to $8.98 billion.
Earnings per share of 39 cents were better than the 34 cents per share expected by Wall Street analysts.
News Corp. said growth in the quarter was led by its television and movie properties while its publishing segment suffered declines.
"I am particularly pleased with the success of our business strategies in spite of the uncertain economic conditions that we continue to face," Murdoch, News Corp.'s chairman and chief executive, said in a statement.
"News Corporation's commitment to delivering value to our stockholders is unwavering and we will continue to focus on generating superior shareholder returns," Murdoch said.
(c) 2012 AFP