SAN FRANCISCO (Dow Jones) - News Corp. said after the market closed Thursday that the company swung to a first-quarter loss, reflecting the effects of an accounting change.
Rupert Murdoch's entertainment and media giant said it lost $433 million, or 13 cents a share. In the year-ago period, it posted a profit of $625 million , or 21 cents a share.
Excluding the one-time items, News (NWS) would have earned $580 million, or 18 cents a share, in the latest period. Analysts polled by Thomson First Call were expecting a profit of 16 cents a share on revenue of $5.62 billion , without the one-time charges factored in.
Revenue rose 10% to $5.7 billion, the company said.
In the company's motion picture and television segment, revenue rose to $1.4 billion from $1.38 billion, while operating income rose to $368 million from $ 291 million .
Home entertainment proceeds from "Robots," "Hide and Seek," "Dodgeball," " Napoleon Dynamite" and "Garfield" helped lift revenue, along with the worldwide theatrical performance of "Fantastic Four," which has taken in more than $320 million to date.
The results were also bolstered by gains at Twentieth Century Fox Television, including higher syndication revenue from "The X-Files" and "Dharma and Greg" and the continued strong DVD sales of "Family Guy" and "24."
Television revenue rose to $1.05 billion from $1 billion, while operating income fell to $160 million from $234 million .
Cable network programming revenue rose to $775 million from $600 million, and income from operations climbed to $197 million compared to $166 million .
At the DirecTV satellite operation, revenue rose to $498 million from $415 million . The unit posted an operating loss of $61 million, down from its year- ago loss of $121 million .
Newspaper revenue rose to $1.01 billion from $865 million, while operating income improved to $125 million from $118 million .
Earlier, the stock closed unchanged at $15.24 .
(END) Dow Jones Newswires
11-10-05 1737ET Copyright (c) 2005 Dow Jones & Company, Inc. Copyright (C) 2005 Dow Jones & Company, Inc. All Rights Reserved.
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