Media mogul Rupert Murdoch's News Corp. (NWS, NWSA) Wednesday reported third-quarter net income of $2.85 billion or $1.22 per share, a surge from $937 million or $0.38 per share reported last year.
The quarter's pre-tax results included other income of $2.43 billion related to gains on the acquisition of an additional ownership stake in Sky Deutschland and the sale of the ownership stake in SKY Network Television in New Zealand.
Excluding items, third-quarter adjusted earnings was $0.36 per share compared to $0.37 per share last year. On average, four analysts polled by Thomson Reuters expected earnings of $0.36 per share for the quarter. Analysts' estimates typically exclude special items.
News Corp.'s revenues for the quarter grew 14 percent to $9.54 billion from $8.40 billion last year. Analysts estimated revenues of $9.18 billion for the quarter.
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