Shares of Dow Jones ( DJ) climbed 3% Thursday after the publisher posted better-than-expected earnings and gave an in-line forecast for 2007. The owner of The Wall Street Journal and Barron's posted fourth-quarter earnings of $192.9 million, or $2.30 a share, bolstered by a one-time gain of $132.1 million related to the sale of the company's local newspapers. Excluding the gain as well as a tax benefit and restructuring charges, earnings totaled 47 cents a share. Analysts polled by Thomson Financial predicted earnings of 43 cents a share; the company's guidance called for earnings in the low 40-cent range. In the year-earlier quarter, earnings were $41.2 million, or 49 cents a share. Revenue increased 6.1% to $485.4 million, boosted in part by the company's buyout of database Factiva from Reuters. Excluding Factiva, revenue was up 3.5%. Wall Street anticipated revenue of $481.1 million. "This performance was driven by focused execution on our transformation plan and operating initiatives, in particular our organizational restructuring, Weekend Edition, print ad sales and circulation revitalization, international print repositioning, Dow Jones Online growth, including MarketWatch, and aggressive cost management," said CEO Rich Zannino. For 2007, Dow Jones gave what it called an "upbeat" outlook, forecasting earnings of $1.40 to $1.55 a share. Analysts, on average, project earnings of $1.51 a share. The company expects revenue to grow 18% to 20%, driven by the acquisition of Factiva, mid single-digit ad revenue growth at the print Journal and 20% online ad revenue growth at Dow Jones Online. In 2006, revenue totaled $1.78 billion. On a pro forma basis, which accounts for if the acquisition of Factiva and the sale of six local properties were completed as of Jan. 1, 2006, the company expects total revenue to be up 3% to 5%. The company said it will no longer provide quarterly earnings or ad revenue guidance. Shares of Dow Jones recently were up $1.33 to $39.90.