News Corp. Profits Increase Despite Scandal
Posted: 5/10/2012 | By: Amy Chozick | New York Times
In a signal to Wall Street that the ongoing phone-hacking scandal in
Britain has not had a significant impact on its bottom line, News
Corporation on Wednesday reported a 47 percent jump in net income and
said it would buy back an additional $5 billion worth of stock.
Corporation said its net income, driven largely by its strong cable
television division, was $937 million in the three months that ended
March 31, or $0.38 per share, compared with $639 million, or $0.24 per
share, in the same period a year earlier.