News Corp. Beats Street's Earnings Forecast

News Corp. reported quarterly earnings that beat analysts' expectations, and revenue that was in line with forecasts on Tuesday.

Murdoch Wins: Shareholder Proposals Rejected
Bebeto Matthews

After the earnings announcement, the media company's shares nched slightly higher n extended-hours trading. (Click here to get the latest quotes for News Corp.)

The company controlled by CEO Rupert Murdoch said that net income came to $2.23 billion, or 94 cents per share, compared with $738 million, or 28 cents per share, a year ago.

Excluding a one-time gain from the sale of its stake in digital video technology company NDS, News Corp.'s fiscal first-quarter earnings excluding items rose to 43 cents per share from 32 cents a share in the year-earlier period.

Revenue ncreased 2 percent to $8.14 billion from $7.96 billion a year ago.

Analysts had expected the company to report earnings excluding items of 37 cents a share on $8.16 billion in revenue, according to a consensus estimate from Thomson Reuters.