6 May 2010

News Corp profit falls

7:06 am on 6 May 2010

Rupert Murdoch's News Corporation saw its after-tax profit drop by 69% in the third quarter to $US839 million - though the figure was better than had been expected.

The media empire, which includes the Wall Street Journal and 20th Century Fox film studios, says improved advertising revenue, strong cable network performance, and success of its Avatar movie all helped boost earnings.

Revenue was up by 19% on a year before to $US8.8 billion.