News Corporation (ASX:NWS) is a diversified media conglomerate with interests in all geographic locations around the world, and in all facets of the media. The principle activities of the company include printing and publishing, books and magazines, television broadcasting and production including both free to air and pay television, and film production and distributions.

Today, ASX 200 listed News Corporation announced its December quarter earnings, showing a net profit of $984.49 million up 65% compared to the same quarter a year ago.

The earnings rise came despite a $33.44 million cost for restructuring the group’s British and Australian newspaper divisions.

NWS reaffirmed its outlook for 2012, saying it still expects the company’s overall operating income to rise in then low-mid double-digit range for the year.

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News Corporation (ASX:NWS) is a diversified media conglomerate with interests in all geographic locations around the world, and in all facets of the media. The principle activities of the company include printing and publishing, books and magazines, television broadcasting and production including both free to air and pay television, and film production and distributions.

Today, ASX 200 listed News Corp reported 1Q12 revenue of US$7.96 billion, up  7% from  a year ago. However net profit for the quarter came in at US$738 million, down from US$775 in the previous quarter.

The fall in earnings was partially due to the $68 million, or 38%, decrease of operating income in the publishing segment. This reflected the impact from the closure of The News of World in the U.K.

The Cable Network Programming, Filmed Entertainment and Direct Broadcast Satellite Television segments all recorded double digit revenue increases compared to the prior corresponding quarter.

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