Newspapers Drive News Corp.

News Corp. ( NWS) said second-quarter earnings were up 51% from a year earlier, with solid revenue growth across its divisions.

The media company had net profit of $361 million, or 30 cents a share, compared with $239 million, or 24 cents a share, last year. Analysts were expecting 28 cents, according to Thomson First Call.

Revenue in the quarter increased 19% to $5.59 billion from $4.68 billion in the year-ago period.

News Corp. said consolidated operating income was up 4% to $760 million, from $729 million a year ago. Among units, News Corp. said cable network operating income was up 55% to $187 million from $121 million. The company also recovered $15 million in Adelphia receivables it had previously written off.

Earnings from film were $253 million, flat with last year's results. Earnings at the television segment were up a modest 1% to $168 million from $165 million, reflecting improvement at Fox Broadcasting and Star, which provides cable programming overseas.

The company's direct broadcast satellite company, SKY Italia, had an operating loss of $106 million, while magazines operating income was up 7% to $63 million from $59 million in the year-ago period.

Newspapers saw a 67% increase in operating income to $170 million, reflecting circulation increases in the U.K. and advertising strength in the U.K. and Australia, the company said.

Fox Entertainment ( FOX), which is 80% owned by News Corp., separately reported earnings of $330 million, or 36 cents a share, up from $283 million, or 32 cents, a year ago. Analysts expected 34 cents, according to First Call estimates.

News Corp. was up 11 cents, or 0.3%, to $37.81, while Fox was gaining 16 cents, or 0.5%, to $31.15.

More from Markets

Fed Chief Uncertain About Policy-Making as Unemployment Hits 18-Year Low

Fed Chief Uncertain About Policy-Making as Unemployment Hits 18-Year Low

Boeing Rises on $6.6 Billion Deal With FedEx

Boeing Rises on $6.6 Billion Deal With FedEx

Dow Turns Lower as Losing Streak Extends

Dow Turns Lower as Losing Streak Extends

'Strong Case for More Rate Hikes,' Says Fed Chair Jerome Powell

'Strong Case for More Rate Hikes,' Says Fed Chair Jerome Powell

A Thunderous Herd of Scared Baby Boomer Investors Could Crush the Market

A Thunderous Herd of Scared Baby Boomer Investors Could Crush the Market