News Corp swings back to black in Q2

Media conglomerate News Corp (ASX:NWS) has announced that it swung back into black y-o-y last quarter, reporting a net income of US$254 million ($286.2 million).

The company, which recorded a net loss of $6.4 billion in the previous corresponding period, said it had nearly tripled its film and TV earnings to $324 million.

Its cable division boosted its operating income by $156 million, but its satellite arm swung to a loss of $30 million from a $10 million profit a year ago.

In an earnings call, CEO Rupert Murdoch said the company would continue with its strategy of charging for online access to its newspaper content.