News Corp Holding, owned by media magnate Rupert Murdoch, reported an unexpected increase in quarterly revenues due to growth rates in the online services and news divisions, which includes the Wall Street Journal and New York Post.
The company's revenue grew by 5.1 % to $ 2.23 billion in the fourth quarter ended June 30, from $ 2.12 billion a year earlier. The analysts interviewed by Reuters on average expected a decline in revenue to $ 2.06 billion.
The sales of the news and information division, the largest one, increased 1 % to $ 1.42 billion.
"The number of electronic subscriptions continues to grow, and now it accounts for about 45 % of all subscribers, while the sale of printed materials also increased significantly in recent months," - said the head of News Corp, Robert Thomson.
The revenue of the rapidly developing online services division in real estate jumped 21.2 % to $ 229 million.
The net profit of the holding, attributable to ordinary shareholders, was $ 89 million, or 15 cents per share, compared with a net loss of $ 379 million, or 65 cents per share.
Excluding the number of balance sheet items, the company earned 10 cents per share from continuing operations, while analysts expected 13 cents.
As for the US stock market as a whole, the stocks reach record highs in early trading on Tuesday, helped by the growth of the technology sector, as well as the stabilization of oil prices.
During the day, Dow Jones index rose 0.23 % to 18 571.75 points, S & P 500 rose 0.25 % to 2186.30 points, and NASDAQ Composite rose 0.35 % to 5231.15 points.
Nine out of ten major industry sectors of the S & P went up, led by shares of the health sector which added 0.47 %.
Valeant Shares jumped 12.74 % to $ 25.31, after the company reiterated its full-year forecast.