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Fox News Reports Highest-Ever Quarterly Profit

May 5, 2010  •  Post A Comment

Fox News had its highest-ever quarterly profit for the period ended March 31, the New York Times’ Media Decoder reports.

The network’s operating income jumped 31% from a year earlier, helped by higher advertising sales and rate increases from affiliates.

Fox News wasn’t alone: The other cable networks also owned by Fox News parent News Corp. reported a 42% increase in profit.

Overall, according to Bloomberg, News Corp. reported a 19% jump in revenue in its third fiscal quarter, with sales reaching $8.8 billion. Net income fell to $839 million from $2.73 billion a year earlier, when the company had a tax benefit and a gain from asset sales, Bloomberg.com reports.

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