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News Corp stock rises on strong profit, advertising growth

The Yahoo Finance Live team breaks down New Corp's stock, the company's Q3 revenue, and its advertising growth.

Video transcript

- All right, taking a look at shares of News Corp trading to the upside by more than 6% this morning. The stock getting a boost after the company used cost cutting measures to lead to a profit beat for the third quarter and saw total subscribers for its consumer products cross 5 million.

News Corp saw its digital real estate services revenue decline 13%. Subscription video services also declined in Q3. But Dow Jones revenue grew 9% on the quarter. Now News Corp saw its advertising trends improve sequentially. Revenues for the quarter declining 5%, but were up 2% since last year.

CEO Robert Thomson writing in the earnings release, quote, in a period in which advertising was clearly insipid in certain parts of the world, our core non-advertising revenue has been particularly robust.