News Corp. Profit Rises; Share Buyback Doubled
News Corp. said net income rose 47 percent in the quarter ended March 31 thanks to growth at its cable networks. The media conglomerate also said it doubled the size of its share-buyback program to $10 billion.
Net income jumped to $937 million, or 38 cents a share, for the fiscal third quarter, compared with net income of $639 million, or 24 cents a share, a year earlier. Revenue rose 2 percent to $8.4 billion.