News Corp Reports Two Percent Increase in Revenue

News Corp Reports Two Percent Increase in RevenueRupert Murdoch's News Corporation which is the owner of HarperCollins and the Wall Street Journal reported its quarterly revenue along with the profits which just surpassed the expectation of the analysts'. The media empires falling print revenue was balanced by its real estate and the book publishing businesses.

Reportedly, the overall revenue in the second quarter spiked two percent to $2.28 billion, which was a shade better than the analysts' forecast of $2.25 billion.

The revenue of News Corporation majorly relies on its newspaper businesses in the U. S, Great Britain and Australia. However the company has been trying to increase its scope by diversifying its business, particularly in the field of real estate websites. Its latest ventures are the U. S. site Move, which it acquired and the company's stake in Australian REA Group. Revenue from the units of the company engaged in digital real estate service businesses including Move, leaped fifty percent to $154 million.

For some time the newspaper businesses have been submerged in falling revenues from advertising.

On Thursday, Chief Executive of the company Robert Thomson said, "It is fair to say that the expansion of our digital real estate portfolio should provide a firm foundation for future growth."