NewsCorp sees higher profits as subscriptions rise

NEW YORK (AFP) – Profits rose in the past quarter at Rupert Murdoch’s News Corp, led by gains in digital subscriptions at the Wall Street Journal and newspapers in Britain and Australia, the company said on Wednesday.

Net profit in the most recent quarter jumped 47 per cent from a year ago to USD128 million, on revenues that grew 23 per cent to USD2.5 billion.

The New York-based media group said the results reflected “strong paid digital subscriber growth at the Wall Street Journal, The Times and Sunday Times (of London) and The Australian with digital subscribers accounting for more than half of total subscriber base.”

Chief executive Robert Thomson said the growth figures “reaffirmed our strategy to focus on digital development, and to put particular emphasis on subscriptions as the advertising market continues to evolve.”