News Corp. topped Wall Street's expectations Wednesday thanks to the strength of its cable and television business.
For the three month period ending in December, the media giant reported net income of $2.38 billion, or $1.01 in earnings per share, up from $1.06 billion or 42 cents per share during the same period a year ago.
Revenue also grew 5 percent to $9.43 billion.
Analysts expected the company to report net income of 42 cents per share, and revenue of $9.27 billion, according to Thomson Reuters.
"News Corporation’s fiscal second quarter performance reflects our strong momentum. Double-digit gains in our Cable and Television businesses, along with improvements in our Publishing segment, drove revenue and earnings growth even as we seized opportunities to invest in our core businesses for long-term and sustainable growth," News Corp.