Pay TV helps News Corp top forecast

Rupert MurdochNews Corporation beat Wall Street's forecast for the January-March quarter, helped by growing revenue from pay TV networks including Fox News Channel and FX, and the hit 20th Century Fox movie Life Of Pi.

The company, controlled by billionaire Rupert Murdoch, also benefited from raising its stake in satellite TV company Sky Deutschland. It now holds a majority stake.
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Net income jumped to 2.85 billion US dollars (£1.83 billion), or 1.22 dollars per share, from 937 million dollars (£603 million), or 38 cents per share, a year ago.

Excluding items such as the one-time 2.1 billion dollar (£1.35 billion) profit related to Sky Deutschland, adjusted earnings came to 36 cents per share, a penny better than expected by analysts surveyed by FactSet.
Revenue rose 14% to 9.54 billion dollars (£6.14 billion), also better than the 9.14 billion dollars (£5.88 billion) expected by analysts.
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