News Corp has reported a third quarter net profit result in line with last year of $US2.7 billion after receiving a boost from the partial sale of its stake in NDS Group plc.
However, operating profit fell 47% to $US755 million in the third quarter, from $US1.4 billion in the prior corresponding quarter.
Chairman and chief executive Rupert Murdoch said the third quarter results directly reflected the continuing weakness of the global economic climate.
Net profit for the three months to March 31 was boosted by $US1.2 billion on the partial sale of a stake in NDS Group plc, and by a non-cash tax benefit of $US1.2 billion.
The prior year's result was lifted by a $US1.7 billion one-time gain from a stock exchange with Liberty Media Group.
Mr Murdoch said the result reflected growth at the cable network programming segment, as well as increases at the filmed entertainment and magazines and inserts segments.
However, all other segments were down: television by 99%, direct broadcast satellite tv by 35%, newspapers and information services by 97%, book publishing by 231%.
Film results were helped by contributions from films such as Marley & Me, Taken and Slumdog Millionaire.
Cable network programming posted an operating income of $US429 million, up 30% on the prior corresponding quarter.
