The company posted a net income of $861m for the third quarter of 2010, compared to $2.72 billion for the prior year period. Total segment operating income was $1.25 billion, compared to $810m reported a year ago.

For the nine months ended March 31, 2010, the company has posted a net income of $1.74 billion, compared to a net loss of $3.12 billion for the year ago period. Revenues were $24.66 billion, compared to $22.75 billion for the year ago period.

Rupert Murdoch, chairman and CEO of the company, said: “Today's earnings confirm that no content company is stronger than News Corporation at building both fiscal and operational momentum. Our global portfolio of sought-after content is ideally situated to benefit from the increase in consumer spending, advertising and access to new platforms we are seeing across our regions.

“The unique strengths of our cable channels - young, vibrant franchises with phenomenal growth and potential - now generate almost half of our operating profit, ensuring that our stakeholders will continue to benefit from News Corporation's sustained revenue, profit and cash flow strength for years to come.”

Will the company improve its net income in Q4?

Have your say and discuss with your peers on the InfoGrok community.

Participate by posting your comments now.