NEW YORK (AP) ? News Corp. said Tuesday that net income for the latest quarter tripled from a year ago, reflecting a one-time gain from the sale of its stake in digital video technology company NDS. Revenue rose 2 percent thanks to growth at pay TV networks such as Fox News Channel.
The company controlled by CEO Rupert Murdoch said that fiscal first-quarter net income came to $2.23 billion, or 94 cents per share, compared with $738 million, or 28 cents per share, a year ago.
Excluding about $1.38 billion in special gains, largely due to the NDS sale, adjusted earnings came to 43 cents per share, beating the 37 cents expected by analysts polled by FactSet.
Revenue of $8.14 billion was roughly in line with the $8.15 billion analysts were looking for.
Shares rose 72 cents, or 3 percent, to $25 in after-hours trading following the release of results. In the regular session, shares closed up 36 cents, or 1.5 percent, at $24.28.
The company said that included in the one-time impacts, charges related to the phone hacking scandal in Britain came to $67 million, up from $17 million a year earlier.
At its U.S. pay TV networks, advertising revenue rose 8 percent, led by Fox News and its regional sports networks. Fees from distributors rose 16 percent domestically. The segment was again the company's most profitable, generating operating profit of $953 million on $2.45 billion in revenue.
Source: http://news.yahoo.com/news-corp-1q-earnings-beat-street-revenue-close-212434032--finance.html
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