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News Corp. profit surges 80 percent on film, TV operations
AFP, February, 2005
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NEW YORK (AFP) — Media-entertainment giant News Corp. said its quarterly profit surged 80 percent from a year ago to 386 million dollars on strong growth in film, cable television and some of its print operations.
Revenue for the three months ended December 31, the fiscal second quarter, advanced to 6.56 billion dollars from 5.55 billion a year ago.
The results were the first since the company headed by Australian-born magnate Rupert Murdoch reincorporated in the United States.
"While our country of incorporation changed in the second quarter, the growth we continue to deliver remains the same," Murdoch said in a statement.
"Operating income was up 24 percent on revenue gains of 18 percent, led by record results at our filmed entertainment and cable network programming segments."
Murdoch said the company also saw strong performance in some of its publishing operations and the Star satellite television ...
