02 Feb '11, 10pm

News Corp. quarterly net profit up 150%

NEW YORK - News Corp. said Wednesday that quarterly net profit rose more than 150 percent to $642 million on a strong performance by its television businesses. Revenue was up slightly in the second quarter of News Corp.'s fiscal year, rising to $8.76 billion from $8.68 billion in the same period a year ago. Earnings per share of 29 cents were better than the 28 cents per share forecast by Wall Street analysts. "News Corporation's second quarter results demonstrate the mounting vigor of our global channels business," News Corp. chairman and chief executive Rupert Murdoch said in a statement. "In the US market, our cable channels are still expanding and adding subscribers, while increasing their revenues and profits at a double-digit pace on the strength of affiliate fee increases and buoyant advertising markets. "I am also pleased with the continued recovery of our US broad...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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