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News Corp stock rises on strong profit, advertising growth

Yahoo Finance

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.