News Corp. sees cable strength

Investor's Business Daily

The media giant and owner of Fox Broadcasting and the Wall Street Journal reported adjusted Q1 EPS of 43 cents, up 34% from a year ago and 5 cents over forecasts. Revenue climbed 2% to $8.1 bil, in line. News Corp. (NWSA) took a $67 mil charge related to the ongoing phone hacking investigation. But operating income at its cable networks climbed 23% to $953 mil, lifted by regional sports networks and its Fox News Channel. Shares rose 1.5% to 24.28.

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