UPDATE 1-News Corp posts higher quarterly revenue, profit
Feb 6 (Reuters) - News Corp reported higher quarterly revenue and profit on Wednesday on strong growth at its cable networks.
The media conglomerate, controlled by Rupert Murdoch, said revenue rose 5 percent to $9.43 billion for the quarter that ended in December. Analysts were expecting revenue of $9.28 billion, according to Thomson Reuters I/B/E/S.
News Corp's global media empire includes Fox Broadcasting, The Wall Street Journal and the film studio Twentieth Century Fox.
Net income was $2.38 billion or $1.01 per share, compared with $1.06 billion or 42 cents per share in the same period a year ago.
Excluding special items including costs related to the phone hacking scandal in the U.K., earnings per share was 44 cents, ahead of analysts' estimates by a penny.
At its cable network, operating income increased 7 percent to $945 million. Advertising revenue at its domestic cable channels rose 8 percent.
The division that operates the company's newspapers and book publishing reported operating income rose to $234 million from $218 million in the same period a year ago.
News Corp is preparing to separate its entertainment and publishing assets into two publicly traded companies later this year.