{"id":4019,"date":"2012-02-09T00:00:00","date_gmt":"2012-02-09T00:00:00","guid":{"rendered":"http:\/\/worldscreen.com\/tvusa\/2012\/02\/09\/news-corp-posts-strong-quarterly-earnings\/"},"modified":"2012-02-09T00:00:00","modified_gmt":"2012-02-09T00:00:00","slug":"news-corp-posts-strong-quarterly-earnings","status":"publish","type":"post","link":"https:\/\/worldscreen.com\/tvusa\/news-corp-posts-strong-quarterly-earnings\/","title":{"rendered":"News Corp. Posts Strong Quarterly Earnings"},"content":{"rendered":"

NEW YORK: News Corp. recorded a 65-percent increase in second-quarter profit, led by strong performances from Cable Network Programming, Television and Filmed Entertainment segments. <\/span><\/span><\/p>\n

Q2 revenue was $8.98 billion, a 2-percent increase from the $8.76 billion in revenues posted a year ago. Total segment operating income was $1.5 billion, an increase of 16 percent from the prior year period. The strong double-digit increases at the cable networks and TV segments more than offset the declines in publishing and other units. The declines at the Other segment were primarily from an $87 million charge related to the investigations from the closure of The News of the World<\/em>. Net income in the second quarter rose to $1.06 billion, compared to last year’s $642 million. <\/span><\/span><\/p>\n

The Cable Network Programming unit reported Q2 operating income of $882 million, a 20-percent increase on the year ago’s second quarter, led by a 9-percent increase in revenue. Domestic channels brought in a 25-percent increase in operating income, while the earnings at the international nets grew 8 percent. Ad revenues at the domestic cable channels grew 6 percent, and 5 percent for international. <\/span><\/span><\/p>\n

Filmed Entertainment brought in $393 million for the quarter, an increase of $204 million over the same period a year ago. <\/span><\/span>Television posted segment operating income of $189 million, a 25-percent gain from last year’s Q2. SKY Italia’s second-quarter segment operating income improved from the year ago loss of $12 million to a positive $6 million. Publishing was down 43 percent, to $218 million. <\/span><\/span>
\n<\/span><\/span><\/p>\n

\n

Chairman and CEO Rupert Murdoch said: <\/span><\/span>“The significant growth we reported in the quarter in the Cable Network Programming, Television and Filmed Entertainment segments clearly validates our strategy to develop and distribute superior wide-ranging content. I am particularly pleased with the success of our business strategies in spite of the uncertain economic conditions that we continue to face. News Corporation’s commitment to delivering value to our stockholders is unwavering and we will continue to focus on generating superior shareholder returns, as evidenced by our strong year to date earnings and the successful completion of over half of our previously announced share repurchase program.” <\/span><\/span><\/p>\n<\/div>\n


\n<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK: News Corp. recorded a 65-percent increase in second-quarter profit, led by strong performances from Cable Network Programming, Television and Filmed Entertainment segments. Q2 revenue was $8.98 billion, a 2-percent increase from the $8.76 billion in revenues posted a year ago. Total segment operating income was $1.5 billion, an increase of 16 percent from …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-4019","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"\nNews Corp. Posts Strong Quarterly Earnings<\/title>\n<meta name=\"description\" content=\"News Corp. Posts Strong Quarterly Earnings . 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