Incomes Outrun Forecasts by Jana Passova

News Corp. finish of 2007 was really successful. On Dec. 13th the company successfully joined with the Wall Street Journal and a parent of newspaper Dow Jones & Co. Management of the company sees its future optimistic. They don't expect any problems in the television advertising market. On a conference with analysts was also mentioned that pricing of entertainment and sports was holding strong constantly. There is no more fear of a recession of economic or strike by writers in Hollywood.Net income for the second quarter of 2007 was 832 million dollars, 27 cents per share compared with 2006 it means increase about 10 million dollars and 26 cents per share. These results are higher than analysts would expect. The company Î≥s income raised 9.5 % to 8.6 billion dollars. The forecast of analysts was somewhere around 8.3 billion dollars. The News Corp. is obviously doing better than expected. This is outcome of higher advertising activities at the Fox News channel and the Fox television network. Earnings by 299 million dollars brought investments in ITV. Operating income at cable networks, including sports and international channels raised to 337 million dollars. Also movie studio didn't get behind. The profit around 14 % came from the film "Alvin and the Chipmunks" and shows from own TV production. The income of the company increased Fox Interactive Media as well. They finished with 22 million dollars improvement. And also MySpace fulfilled 1 billion income target.Someone could expect that the other plans of News Corp. cover buying Yahoo. Nothing like that is going to happen. The company is not interested. In January they promised to give away free parts of the Web side of the Wall Street Journal for Web viewers. News Corp. has big plans in Europe with German pay-television broadcaster as well.

by Jana Passova for PocketNews (http://pocketnews.tv)

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Edited by: Katarina Bosanska