News Corp. Earnings

News Corp. said its fiscal second-quarter profit rose 26% on higher advertising at its newspapers, television stations and Fox TV network.

Profit before charges rose to $383 million from $303.4 million a year earlier. The per-share result was the same when an increase in shares outstanding is taken into account.

The company, led by Chairman Rupert Murdoch, benefited from its broadcast TV network and newspapers, which got a boost from higher advertising and lower newsprint costs in the United States and Britain. That more than offset losses from the start of a 24-hour news channel and slowing growth at its 40%-owned British Sky Broadcasting Group satellite TV company.

The Sydney, Australia-based media giant’s revenue for the quarter ended Dec. 31 rose 29%, to $3.44 billion from $2.67 billion.

News Corp.’s film operations generated operating profit of $58.5 million, down from $72.1 million, because of tough comparisons with the year-ago period, when the company had the hit “Independence Day.” However, News Corp. had success in the quarter with its low-budget film “The Full Monty.”

Its Fox television network, ranked No. 4 in the U.S., has improved its ratings in the key prime-time hours. Operating profit at the television business rose to $189.8 million from $104.08 million.