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Newscorp profits top one billion dollars { January 2006 }

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   http://www.breitbart.com/news/2006/02/08/060208214539.xxhsl8f0.html

http://www.breitbart.com/news/2006/02/08/060208214539.xxhsl8f0.html

News Corp profit tops one billion US dollars
Feb 08 4:45 PM US/Eastern

News Corp. announced a profit of 1.08 billion dollars in the just-ended quarter, nearly triple the result from the same period a year ago.

The media-entertainment giant controlled by Rupert Murdoch said its operating results translated into a profit of 21 cents a share, a penny better than expected by Wall Street analysts.

Revenues for the second fiscal quarter to December 31 rose to 6.67 billion dollars from 6.56 billion in the same period a year earlier. Analysts polled by Thomson First Call were expecting revenue of 6.88 billion dollars.

The company said its earnings were boosted by strong results in its cable television operations and the Fox Television Network.

"Our performance this quarter reflects the sustained momentum we have generated across the majority of our businesses," said Murdoch, who is chairman and chief executive of the company that recently moved its headquarters from Australia to the United States.

"We translated the desirable audiences we deliver for advertisers into double-digit earnings gains at our television and cable network programming segments.

"We drastically lowered SKY Italia's operating loss, keeping it on track to deliver its first full year of profitability.

"And, while we faced comparisons to a record quarter year ago at our film studio, we released a number of successful films this quarter each of which should generate strong returns later this fiscal year when distributed in home entertainment," Murdoch said.

News Corp. is the umbrella company for an empire that includes the Fox studios and television operations, London-based satellite TV company BSkyB, newspapers including The Times of London, New York Post, and The Australian, and other publishing and media operations.



Copyright AFP 2005



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