- AP, Thursday, November 4, 2010 11:07 PM
News Corp. is benefiting from political ad spending and a hard-nosed bargaining strategy with pay-TV operators, as gains in its TV and cable segments helped net income grow in the latest quarter. The
New York-based media giant controlled by Rupert Murdoch said Wednesday that net income in the fiscal first quarter, which ended Sept. 30, rose 36 percent to $775 million, or 30 cents per share, from
$571 million, or 22 per share, a year ago.
Excluding a one-time tax benefit of 3 cents per share, the adjusted 27 cents per share of earnings still topped the 24 cents expected by
analysts polled by Thomson Reuters. Revenue grew 3% to $7.43 billion from $7.20 billion, also topping analysts' estimates for revenue of $7.42 billion.
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