News Corp earnings beat projections on cable strength


Rupert Murdoch's News Corp on Tuesday reported quarterly profit that beat analyst expectations thanks to growth at the company's cable networks.

The media giant that owns Fox Broadcasting and The Wall Street Journal said adjusted earnings per share reached 43 cents for the quarter that ended in September. Analysts on average had expected 37 cents, according to Thomson Reuters I/B/E/S.

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Revenue for the quarter came in at $8.1 billion, a 2 percent increase from a year earlier.

Shares of the company were up 3 percent in after-hours trading at $25.82. They earlier closed at $24.28 on Nasdaq.

(Reporting By Lisa Richwine; Editing by Gary Hill and Andrew Hay)