Advertising And “Simpsons” Help News Corp (NWS)
News Corp (NWS) reported first quarter consolidated operating income of $1.05 billion, up 23% as compared to the $851 million reported a year ago, primarily as a result of double-digit percentage increases at the Filmed Entertainment and Cable Network. First…
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News Corp (NWS) reported first quarter consolidated operating income of $1.05 billion, up 23% as compared to the $851 million reported a year ago, primarily as a result of double-digit percentage increases at the Filmed Entertainment and Cable Network. First quarter net income of $732 million ($0.23 per share), decreased versus net income of $843 million ($0.27 per share on a diluted combined basis) reported in the first quarter a year ago.
Revenue rose to $7.1 billion from $5.9 billion a year ago.
At the company’s studios higher first quarter film results were largely driven by the theatrical success of The Simpsons Movie, which has grossed over $524 million in worldwide box office, and Live Free or Die Hard, which has surpassed $375 million in worldwide box office.
Cable Network Programming reported first quarter operating income of $289 million, an increase of $40 million over the first quarter a year ago. The 16% growth reflects increased contributions from Fox News Channel
The Newspapers segment reported first quarter operating income of $93 million, down $31 million from the $124 million reported in the same period a year ago
Shares are up 1.7% after hours
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
