LOS ANGELES — News Corp. said Tuesday that net income for the latest quarter tripled from a year ago, reflecting a one-time gain from the sale of its stake in digital video technology company NDS. Revenue rose 2 percent thanks to growth at pay TV networks such as Fox News Channel.
Fiscal first-quarter net income came to $2.23 billion, or 94 cents per share, compared with $738 million, or 28 cents per share, a year ago.
Excluding about $1.38 billion in special gains, largely due to the NDS sale, adjusted earnings came to 43 cents per share, beating the 37 cents expected by analysts polled by FactSet. News Corp. had a 49 percent stake in NDS, which was acquired by Cisco Systems Inc. in July.