News Corp (NWS) reported first quarter consolidated operating income of $1.05 billion, up 23% as compared to the $851 million reported a year ago, primarily as a result of double-digit percentage increases at the Filmed Entertainment and Cable Network. First quarter net income of $732 million ($0.23 per share), decreased versus net income of $843 million ($0.27 per share on a diluted combined basis) reported in the first quarter a year ago.
Revenue rose to $7.1 billion from $5.9 billion a year ago.
At the company’s studios higher first quarter film results were largely driven by the theatrical success of The Simpsons Movie, which has grossed over $524 million in worldwide box office, and Live Free or Die Hard, which has surpassed $375 million in worldwide box office.
Cable Network Programming reported first quarter operating income of $289 million, an increase of $40 million over the first quarter a year ago. The 16% growth reflects increased contributions from Fox News Channel
The Newspapers segment reported first quarter operating income of $93 million, down $31 million from the $124 million reported in the same period a year ago
Shares are up 1.7% after hours
Douglas A. McIntyre
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