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News Corp. gets boost thanks to one-time tax benefit

News Corp. posted higher profit in the quarter that ended Sept. 30, boosted by a one-time tax benefit.

The company, which owns the Wall Street Journal and The Post, said income from continuing operations rose to $143 million, or 22 cents a share, from $109 million, or 15 cents, a year ago.

Excluding certain items, adjusted earnings were 5 cents a share in the latest period.

Revenue fell 4 percent on foreign currency fluctuations and lower print advertising.

Excluding the effects of currency, revenue rose 4 percent, “underscoring the value of our shift to higher growth businesses and our prudent reinvestment strategy,” Chief Executive Robert Thomson said.

Digital real estate operations were a standout. Revenue at the unit, which includes US Web site realtor.com and a stake in Australia’s REA Group, jumped 71 percent, to $191 million.

News Corp., which owns HarperCollins, saw an uptick in revenue at its publishing division, which benefited from the July release of “Go Set a Watchman,” the sequel to Harper Lee’s “To Kill a Mockingbird.”

Revenue at news and information services fell 11 percent on ad revenue weakness and currency fluctuations.

Source: nypost

News Corp. gets boost thanks to one-time tax benefit обновлено: Ноябрь 6, 2015 автором: Hellen Donovan
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