NEWS CORP (NWS) Profit Rises 6 Percent
Rupert Murdoch's media conglomerate News Corp. reported a 6.2 percent profit increase for its latest quarter Wednesday on higher earnings from movies including "Night at the Museum" and growth in cable TV networks.
News Corp., which owns Twentieth Century Fox, the Fox broadcast network, Fox News Channel, newspapers in the U.K. and Australia and MySpace, earned $871 million in its third fiscal quarter ended March 31, up from $820 million in the same period a year ago.
The earnings were equivalent to 27 cents per share, in line with the estimate of analysts polled by Thomson Financial, and up from 26 cents per share a year ago. News Corp.'s shares slipped 29 cents to $21.46 in morning trading.
Revenue rose 21.5 percent to $7.5 billion from $6.2 billion in the same period a year ago.
News Corp., which owns Twentieth Century Fox, the Fox broadcast network, Fox News Channel, newspapers in the U.K. and Australia and MySpace, earned $871 million in its third fiscal quarter ended March 31, up from $820 million in the same period a year ago.
The earnings were equivalent to 27 cents per share, in line with the estimate of analysts polled by Thomson Financial, and up from 26 cents per share a year ago. News Corp.'s shares slipped 29 cents to $21.46 in morning trading.
Revenue rose 21.5 percent to $7.5 billion from $6.2 billion in the same period a year ago.
posted by Stock Administrator @ 1:56 PM
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