On May 9, News Corporation announced its financial results for 2012's first quarter, revealing US$ 8.4 billion in revenues. According to the report "the quarterly revenue increase was led by double-digit growth at the Company's Cable Network Programming and Filmed Entertainment segments, partially offset by declines primarily at the Company's Television segment due to the absence of revenues generated from the broadcast of the National Football League Super Bowl in the prior year."
The report also states the results include a US$ 63 million charge ($0.02 per share) related to the costs of the ongoing investigations initiated upon the closure of The News of the World.
As far as its growth in the Filmed Entertainment division, the company reported third quarter segment operating income of US$272 million, a US$ 24 million increase over the US$ 248 million reported in the same period a year ago. This results included the worldwide theatrical and domestic home entertainment performances of Alvin and the Chipmunks: Chipwrecked and The Descendants,as well as Rise of the Planet of the Apes and the pay television performance of Rio.
Meanwhile, the company's international cable channels' advertising revenue grew 7% over the prior year, due to improving advertising markets and viewership trends, led by particular strength at the Fox International Channels in Latin America and Asia.
"Once again News Corporation showed strong operational momentum in the quarter, driven by significant growth at our Cable Network Programming and Filmed Entertainment segments. With our disciplined approach to monetizing our brands, I believe we are better situated than ever to capitalize on the increasing global demand for our superior content," said Rupert Murdoch.
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Where Everything Grows
