News Corp. Earnings Fall Because of Asset Sales a Year Ago

Posted Wednesday, November 7, 2007 12:00 am

By: Rupert Murdoch's News Corp. reported a 13% decline in earnings Wednesday from a year ago, when results were lifted by gains from investment sales.
The company earned $732 million in the three months ended in September, down from $843 million a year ago.

News Corp. ? owner of the Fox network, Fox News Channel, MySpace, the Twentieth Century Fox movie studio and newspapers throughout Australia, England and the New York Post? is close to completing a deal to acquire Dow Jones & Co., publisher of The Wall Street Journal, for $5 billion.

Earnings per share came in at 23 cents, a penny ahead of analysts expectations as reported by Thomson Financial and below the 27 cents a share in the year-ago period.

Revenue rose 19% to $7.07 billion.

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News Corp. Earnings Fall Because of Asset Sales a Year Ago

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