This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Neophyte Director? No Problem for News Corp.

"We think Natalie is going to be a wonderful addition to our board of directors and we look forward to working with her," said Murdoch.

For the first quarter ended Sept. 30, Murdoch's media empire reported net income of $732 million, or 23 cents a share, for the September period, down from the $843 million, or 27 cents a share, it logged for the same quarter last year.

News Corp. attributed the profit drop to one-time gains recorded last year related to asset sales. On an operating basis, the company reported a 23% jump in earnings to $1.05 billion.

Revenue jumped 20% to $7.07 billion.

The company's earnings beat Wall Street's target by a penny, based on Thomson First Call's average analyst estimate, and its top line surpassed predictions of $6.5 billion.

Success at News Corp.'s film division powered the company's performance, thanks to strong showings from 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 box office returns.

The filmed entertainment division posted a 51% gain in operating income for the quarter to $362 million.

Murdoch said on the call that Fox Interactive Media Internet division, which includes the popular social networking site MySpace, posted first-quarter revenues of $188 million, up 80% from last year. Losses at its business division in News Corp. narrowed to $43 million from $73 million a year earlier.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,249.30 +92.45 0.54%
S&P 500 2,009.12 +7.55 0.38%
NASDAQ 4,586.1870 +23.9980 0.53%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs