News Corp shareholders renew call for Rupert Murdoch to step down

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6. News Corp results beat estimates, spin-off on track

Good luck to the dissident shareholders.

(Reuters) - Rupert Murdoch's News Corp reported quarterly earnings that beat Wall Street expectations, aided by growth at its cable networks, and said it is on track to split off its slow-growing publishing business by the end of June.
Its revenue rose 14 percent from a year earlier to $9.5 billion in the quarter, ended March 31, News Corp said on Wednesday. The company posted adjusted earnings of 36 cents per share, just beating the 35 cents expected on average by analysts, according to Thomson Reuters I/B/E/S.
News Corp shares rose 3.6 percent to $33.00 in after-hours trading, after closing at $31.86 on the Nasdaq.
One-time items, including the purchase of a controlling stake in German pay TV operator Sky Deutschland and the sale of an ownership stake in New Zealand's Sky Network Television, helped lift net income to $2.85 billion, a jump from $937 million a year earlier.
The New York-based company said it is on track to separate its cable channels, movie studio and other fast growing entertainment assets from its newspapers, including The Wall Street Journal, near the end of its fiscal year in June.
Its entertainment assets helped boost revenue and earnings for the quarter, led by its cable networks business, which includes the Fox News Channel, FX and regional sports networks.

http://news.yahoo.com/news-corp-results-beat-estimates-spin-off-track-005932112.html