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; william.launder@dowjones.com

Stock News for News (NWSA)
DateTimeHeadline
12/02/201612:00:00FCC Raises Fresh Concerns Over 'Zero-Rating' by AT&T, Verizon
12/01/201622:30:00Theranos Investor Riley Bechtel Steps Down From Board
12/01/201617:00:00CBS All Access Secures Rights to Stream NFL Games
11/30/201614:30:00AppNexus Files Confidentially for IPO
11/30/201610:40:00U.S. Pending Home Sales Edged Higher in October
11/30/201600:01:00Realtor.com® Forecasts Post-Election Economy to Result in Higher...
11/29/201619:10:00Trump Plans to Name Steven Mnuchin as Treasury Secretary
11/29/201611:02:00News Corp to Participate in UBS 44th Annual Global Media and...
11/27/201620:10:00Moana' Makes Splash at Box Office
11/23/201614:00:00Memoirs of Megyn Kelly, Bernie Sanders Selling Briskly
11/22/201612:40:00Pearson Learns Painful Lessons as Common Core Fails to Pay Off
11/22/201610:50:00U.S. Existing-Home Sales Highest Since February 2007
11/18/201610:20:00DraftKings and FanDuel Agree to Merge
11/17/201609:00:00Preeminent Design Site Remodelista Announces Holiday Markets...
11/15/201613:20:00News Corp's Dow Jones Reaches Contract With Union
11/15/201609:00:00Realtor.com® unveils new and expanded experience for consumers...
11/14/201606:12:31Current Report Filing (8-k)
11/13/201621:50:00Messaging Startup Slack Braces for Competition
11/08/201611:20:00Bloomberg Chat Suffers Outage
11/08/201607:19:29Quarterly Report (10-q)

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 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US