Despite Hacking Scandal, News Corp's Net Surges 47 Percent

News Corp took a charge of $63 million related to legal costs associated with the British telephone hacking scandal that brought down its most profitable newspaper, The News of the World , but the company nevertheless reported a 47-percent surge in net income in its third quarter to $937 million versus $639 million for the same period a year ago. "Once again, News Corporation showed strong operational momentum in the quarter, driven by significant growth at our Cable Network Programming and Filmed Entertainment segments," Chairman/CEO Rupert Murdoch said in a statement. The company's 20th Century Fox unit showed solid results from both theatrical releases and home entertainment, with operating income up nearly 10 percent from the comparable quarter last year.

10/05/2012


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Tags: Nevertheless - Rupert Murdoch


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