News Corp posts strong Q3 results
News Corporation, owner of media companies including News International, BSkyB and Fox, has posted a 19% hike in total revenue for the third quarter.
News Corp’s total revenue for the three months to 31 March totalled $8.8bn (£5.8bn), up from $7.4bn (£4.88 bn) and the company has reported growth in “all major business segments.”
Chairman and chief executive officer Rupert Murdoch says: “Our global portfolio of sought-after content is ideally situated to benefit from the increase in consumer spending, advertising and access to new platforms we are seeing across our regions.”
He adds that the cable channels now generate nearly half of News Corp’s operating profit.
The filmed entertainment division saw operating income jump 76% to $497m (£327.9m) driven by the theatrical performance of Avatar.
Newspapers and information services saw operating income rise from £29m (£19.1m) to $131m (£86.4m) driven by growth in ad revenues at UK newspapers and The Wall Street Journal.
