News Corp-Pronar of The Post and The Wall Street Journal-Reported three-month income better than expected on Thursday, strengthened by growth in his real estate digital assets, dow Jones and the publication of books.
New York -based media giant reported $ 107 million net income from continuous operations, or 14 cents per share, compared to $ 64 million, or 7 cents a year ago. Profits regulated by action reached 17 cents.
Third quarter revenues increased to 1% to $ 2.01 billion from $ 1.99 billion a year ago.
Wall Street waited for EPS 13 cents for $ 2 billion income, according to Yahoo Finance.
News Director General Corp Robert Thomson defended the company’s “sustainable force” and “strategic transformation” for removing 67% in quarter, which ended on March 31.
“The sustainable force of the third quarter of News Corp reflects the strategic transformation of the company,” Thomson said on Thursday. “We have followed the digital growth, we have reorganized our assets, ruthlessly focused on cost discipline, and affirmed the essential value of our intellectual ownership in a world of change, challenging.”
News Corp’s financial results were driven by a 5.7% increase in revenue to $ 575 million in its Dow Jones unit, in part due to improved turnover revenue, as well as a 4.6% increase in real estate division to $ 406 million.
“The sustainable importance of quality journalism cannot be underestimated between a political and economic Maelstrom.” Thomson said.
The book publishing unit, which includes Harpercollins, without its income dance 2% thanks to the highest book sales driven by key titles such as “Wicked” by Gregory Maguire, “Dream Girl Drama” by Tessa Bailey and higher Bible sales.
Thomson continued to address the hot topic of artificial intelligence, saying: “The reliability currency will become even more important as it continues its exponential growth and inevitably blur the lines between current and anthropomorphic.”
He also welcomed the completion of the Australian business sale of the company TV Cable TV, Foxtel Group, in the Sports Network owned by British Dazn last month for $ 2.1 billion, which he said “scored an important moment for News Corp” in its continued growth.
“The transaction significantly strengthened our balance and is expected to increase the return of the invested capital, and to be accressive to the profits for action. It also demonstrates our continued commitment to maximize return for our shareholders,” he said.
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Image Source : nypost.com