News Corp profits boosted by NDS sale

  • Rupert Murdoch's News Corp has reported a sharp increase in profits on the back of a one-off asset sale and strong revenue growth at its cable networks division.

    Net profit for the three months to the end of September sat at $2.3billion, nearly three times the $786 million made by the company in the same period last year.

    Total revenue increased by 2 percent to $8.14 billion, which included $1.38 billion from the sale of pay-TV encryption company NDS.

    Advertising sales boosted the cable networks' revenue by 16 percent to $2.45 billion.

    The results beat analysts’ expectations and shares in News Corp rose around 3 percent in after-hours trading on Tuesday.