News Corp 4Q Profit Jumps 27%

By: News Corp. says fiscal fourth-quarter earnings jumped 27 percent on profit from the sale of assets and higher operating earnings in its film, cable networks and newspaper units.

The New York-based media conglomerate controlled by Rupert Murdoch says net income rose to $1.13 billion, or 43 cents per share, from $890 million, or 28 cents per share, a year ago.

Revenue rose 17 percent to $8.59 billion from $7.37 billion last year.

Thomson Financial says analysts it polled expected profit of 34 cents per share on revenue of $8.51 billion.

Murdoch says the company faces "more challenging macro-economic conditions" in the current business year will lead to "somewhat less robust growth."