Global media giant News Corporation
(ASX:NWS) has reported a profit of US$254 million for the three months to December 31, 2009 compared with a loss of $6.4 billion in the same quarter a year ago.
These results include a one-time $500 million pre-tax charge related to the settlement of litigation filed against the company’s integrated marketing services business.
Chairman and CEO Rupert Murdoch says the company is emerging from the recession with renewed vigor and strength.
Mr Murdoch says the company’s underlying operating trends this quarter far outpace those of the same quarter last year.
News Corp reported total revenue of US$8.7 billion for the quarter up 10%.
News Corp reported a loss of $4.163 billion for fiscal 2009.
