Tuesday, February 2, 2010

Urgent: News Corp. Q2 results beat estimates

From a just-filed Wall Street Journal story on News Corp.'s second-quarter results, disclosed moments ago:

News Corp. reported a second-quarter profit in contrast to a year-earlier loss, led by continued strength at its cable-TV programming and filmed-entertainment divisions. Year-earlier results had been dragged into the red by revenue declines and impairment charges.

Excluding items in both years, News Corp.'s per-share earnings rose to 25 cents from 15 cents. Revenue rose 10% to $8.68 billion. Analysts, on average, were forecasting earnings of 20 cents a share on revenue of $8.23 billion.

The results were reported after stock markets closed. In after-hours trading, NWS shares were recently up 2.3%, to $15.39. In regular trading, they closed up 2.2%, at $15.04.

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