News Corp lifts Q3 profit

By a staff reporter

News Corporation remains confident the separation of its businesses later this year will unlock considerable value for the company, after posting a lift in third-quarter profit.

In the three months to March 31, News Corp posted net profit of $2.845 billion ($A2.78919 billion), a lift from the $939 million recorded in the previous corresponding period.

In the same period, revenue came in at $9.538 billion, an increase on the $8.402 billion recorded in the 2012 March quarter.

News Corporation chairman and chief executive officer Rupert Murdoch said the group was on target to complete the proposed separation of our businesses near the end of the fiscal year.  

"As we prepare to launch two new industry leaders with new News Corporation and 21st Century Fox, I am more confident than ever of the long-term value the separation will unlock for the company and its shareholders," Mr Murdoch said.

News Limited is the owner of Business Spectator.