News Corp. shares rise on $65M profit jump

News Corp. shares jumped 3.9 percent in extended trading Wednesday after the media company reported quarterly results that beat analyst expectations.

Net income attributable to shareholders more than doubled for the fiscal first quarter ended Sept. 30 to $65 million, or 11 cents a share, from $27 million, or 5 cents, in the year-earlier period.

Wall Street was expecting earnings of 3 cents per share. The revenue jump of 4 percent, to $2.15 billion, also cleared the analyst forecast of $2.09 billion.

The company, which owns The Post, said its book publishing, digital real estate services and digital education segments drove the revenue gain. Romantic book publisher Harlequin, which was acquired in August, also lifted results.

In June 2013, News Corp. separated some businesses from assets that now make up 21st Century Fox.

"This past quarter demonstrates that our strategy to develop the new News [Corp.] for long-term growth is firmly on track," Chief Executive Robert Thomson said in a statement.

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