Media conglomerate News Corp. reported earnings of 35 cents per share on revenue of $8.98 billion Wednesday, beating Wall Street estimates looking for 30 cents a share and $8.44 billion.
Chairman and CEO Rupert Murdoch apologized again for the phone hacking scandal, but insisted it had nothing to do with the rest of his company.
News Corp. owns The Post, AllThingsDigital and NewsCore.
“While it has been a good quarter from a financial point of view, our company has faced challenges in recent weeks relating to our London tabloid, News of the World,” a release from the company said. “We are acting decisively in the matter and will do whatever is necessary to prevent something like this from ever occurring again.”
“It is important to note that there has been no material impact on our other operations,” the release continued. “Our broad, diverse group of businesses across the globe is extremely strong today. The drivers of our businesses are intact, our position is strong and our future is promising.”
The company says it booked a $254 million loss on the fire sale of MySpace — a company Murdoch paid $580 million for in 2005, and which once was the key driver in a $900 million Google deal.
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