The global media conglomerate said its profit climbed to $254 million, or 10 cents per share, in the three months ended Dec. 31, compared to a loss of $6.4 billion a year earlier.
Other than a one-time legal settlement charge of $500 million, News Corp.’s earnings per share surged 66% to 25 cents per share. Analysts were expecting a profit of 20 cents per share.
Company revenue jumped 10% to $8.7 billion, topping analysts’ forecasts of a 5% rise to $8.2 billion.
New Corp. Chief Executive Rupert Murdoch said "We continue to reap the benefits from the restructuring and cost containment measures we instituted before the downturn began."
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