Categories
Authors

News Corp quarterly profit more than doubles, revenue climbs to beat Wall Street expectations [Video]

Watch/Read More

News Corp — owner of The Post and The Wall Street Journal — reported better-than-expected quarterly earnings on Thursday, bolstered by growth in its digital real estate, Dow Jones and book publishing divisions.

The New York-based media giant reported $107 million in net income from continuing operations, or 14 cents a share, compared with income of $64 million, or 7 cents, the year prior. Adjusted earnings per share totaled 17 cents.

News Corp CEO Robert Thomson touted growth at the company’s Dow Jones, real estate and book publishing units for the Q3 growth. AFP via Getty Images

Third-quarter revenue jumped to 1% to $2.01 billion from $1.99 billion a year earlier.

Wall Street expected EPS of 13 cents on revenue of $2 billion, according to Yahoo Finance.

News Corp CEO Robert Thomson touted the company’s “sustained strength” and “strategic transformation” for lifting profits 67% in the quarter, which ended March 31.

“The sustained strength …