Blog Post

Earnings: News Corp. FY4Q06 Profit Up 19 Percent; No YouTube In FIM”s Future

News Corp. (NWS) reported fiscal fourth quarter and full-year results after the market close. Profit for FY4Q06 rose 19 percent to $852 million, or $0.27 per share, up from $717 million, or $0.22 per share in the same quarter last year. Some of that gain stems from a sale of European radio stations. Revenues for the quarter were up 11 percent to $6.8 billion from $6.1 billion the previous year, pumped by double-digit increases from film, television, cable and and satellite. More to come.
Update: Still listening to the earnings call but Chairman and CEO Rupert Murdoch and COO Peter Chernin quickly dismissed the notion of YouTube as a potential acquisition. The gist: MySpace video already has roughly 65 percent of the amount delivered by YouTube and they would prefer to continue to invest in MySpace rather than make new acquisitions. Beyond video, no significant acquisitions on the horizon.
Earnings | Webcast (4:30 p.m. Eastern)