News Corporation (ASX:NWS, NASDAQ:NWSA) has increased its full year net profit by 8 per cent to $2.64 billion and confirmed it suffered “no material impact” from the recent phone hacking scandal in the UK.
The media company’s 2011 financial year result was in line with market forecasts and with its own guidance of low double digit growth.
In the same period earnings before interest and tax increased 11.6 per cent to $4.8 billion.
News Corp says earnings are likely to grow in the "low to mid teens" range in the year ahead.
The forecast is underpinned by expected strong year-over-year earnings growth in many of its businesses, aided by the recent divestment of its underperforming social network site, MySpace.
News Corp has increased its annual dividend by around 1.9 cents to 16.7 cents per share.
