ADVFN - Advanced Financial Network.
HOME» NASDAQ » N » NWSA Stock Price » NWSA Stock News

News Share News

 News (mm) Stock Price
NWSA Stock Price
 News (mm) Stock Chart
NWSA Stock Chart
 News (mm) Stock News
NWSA Stock News
 News (mm) Company Information
NWSA Company Information
 News (mm) Stock Trades
NWSA Stock Trades

News Corp's 3Q Profit Rises 47% On Cable Growth, One-Time Gains

By William Launder Of DOW JONES NEWSWIRES NEW YORK (DOW JONES)--News Corp. (NWS, NWSA) on Wednesday reported a 47% jump in its fiscal third-quarter profit, helped by one-time gains and continued growth at the company's cable networks and film divisions. In addition, News Corp.--which owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal--also increased its stock-repurchase program by $5 billion, bringing the total to $10 billion. "I believe we are better situated than ever to capitalize on the increasing global demand for our superior content," Chairman and Chief Executive Rupert Murdoch said in a press release. Net income was $937 million, or 38 cents a share, for the quarter ended March 31, up from $639 million, or 24 cents a share, a year earlier. Excluding one-time charges, per-share earnings rose to 37 cents from 26 cents. Analysts, on average, expected a profit of 31 cents a share, according to Thomson Reuters. Revenue increased to $8.4 billion from $8.26 billion, beating the average analyst prediction of $8.24 billion. The fiscal third-quarter profit comes as News Corp. continues to deal with the fallout from a phone-hacking scandal at its U.K. newspaper division, which has led to it closing the News of the World tabloid and abandoning efforts to buy the remainder of British Sky Broadcasting Group PLC (BSYBY, BSY.LN). News Corp. said the quarterly results were burdened by $63 million in costs tied to ongoing investigations following the closure of News of the World. Last week, Murdoch was rebuked by a U.K. parliamentary committee, who said he was "not a fit person" to lead an international media company. News Corp. unveiled an initial $5 billion share-repurchase agreement last year, as it sought to deploy excess cash it had intended to use to pay for the remainder of BSkyB. The company has since bought back $3.9 billion of Class A shares under the program, at an average price of $17.51. One-time gains booked during the quarter included $111 million in gains from BSkyB's share-repurchase program and $27 million tied primarily to the sale of a stake in Hathway Cable. By William Launder, Dow Jones Newswires; 212-416-3412;

Stock News for News (NWSA)
11/24/201516:32:51Statement of Changes in Beneficial Ownership (4)
11/23/® Operator Move, Inc. Names Suhail Ansari Chief Technology...
11/23/201503:02:00Pearson, Dow Jones Sell Stakes In Russian Paper
11/20/201513:30:00Pearson, Dow Jones Sell Stakes in Russian Newspaper
11/20/ and Move, Inc., Operator of, Enter...
11/20/201509:20:00FT Journalists Delay Strike
11/19/201511:00:00FT Journalists Vote to Strike
11/19/201505:00:00Unruly Unveils Most Shared Ads of 2015 with Google Android’s “...
11/18/201512:54:00Elisabeth Murdoch Launching Mobile Video Company Vertical Networks
11/13/® builds on trusted listing platform to deliver industry's...
11/12/201516:42:00Hulu in Talks to Sell Stake to Time Warner--Update
11/12/201516:40:00Hulu in Talks to Sell Stake to Time Warner
11/12/201516:33:00Hulu in Talks to Sell Stake to Time Warner
11/12/® "House Wrap" Shows You Can't Find Your Dream Home...
11/11/201511:40:00Financial Times Faces Possible Strike
11/11/201509:00:00New Global Network Agreements Add to Record Year for ListHub
11/10/201513:15:06Amended Statement of Ownership (sc 13g/a)
11/06/201508:22:45Quarterly Report (10-q)
11/05/201518:00:00News Corp Earnings Boosted by Tax Benefit
11/05/201516:40:24Current Report Filing (8-k)

News and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations