News Corp profits soar
Analysts’ expectations smashed as New Corp records tripled profits of $2.3bn
News Corp has reported profits of $2.3bn for the three months to September – almost three times what the company made in the same period a year ago, according to the BBC. Total revenue rose 2% to $8.14bn, a figure which includes a one-off boost from the $1.38bn sale of pay-TV encryption company NDS. The results beat analysts’ expectations, and News Corp shares rose 3% in after-hours trading.