Rupert Murdoch’s News Corporation has posted an 18% increase in the first quarter of 2005, as profits jumped to $761 million year-on-year.
The strong profit growth was fuelled by a 4% increase in revenue, which was spurred by double digit earning gains in television, cable, newspapers, magazines and supplements.
During a telephone conference for reports and market analysts, Murdoch, who is the chairman and chief executive of the global group, said in one breath that it was still very early to make bold predictions for the full-year but in the next breath went on to do just that.
He said: “This quarter again demonstrated there was no company in the media industry today that is fundamentally stronger than News Corp operationally or strategically.
He added: “Given our strong first quarter results and the momentum we are generating across our businesses we remain very optimistic that we will deliver another record year of earnings for News Corp and with the re-incorporation behind us, we are very excited about what the future holds.”
Related Links
