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News Corp. shares rise after earnings beat

Natalia Wojcik

Shares of Rupert Murdoch's News Corp. rose after the company reported an earnings beat on Tuesday.

The stock was up more than 2 percent in extended trading.

Here's what the company reported compared to what Wall Street expected, according to Thomson Reuters consensus estimates:

  • EPS: 7 cents vs. 5 cents expected
  • Revenue: $1.98 billion vs. $1.86 billion expected

News Corp. posted adjusted fiscal third-quarter earnings of 7 cents per share on revenue of $1.98 billion, up 5 percent year-over-year from $1.89 billion. Analysts expected earnings per share of 5 cents on revenue of $1.86 billion.

The company attributed the growth to expansion in their Digital Real Estate Services, led by realtor.com, which expanded traffic, profits and revenue.

The New-York based media group includes HarperCollins and Dow Jones — which owns Barron's and The Wall Street Journal — among others.

Digital subscribers to the Wall Street Journal grew by over 300,000.

News Corp. announced Marc Frons as its new chief technology officer on Monday. Frons had served as interim CTO since October 2016.

As of Tuesday's close, shares of the media company are more than 14 percent higher year to date.