News Corp up 5% on Strong Q3 Earnings

News Corp

is trading higher on the session followings its Q3 earnings announcement yesterday after the close. The company reported an EPS of $0.37 vs $0.31 estimates and revenues of $8.4 billion vs $8.24 billion estimates. News Corp also announced it will double its buyback program to $10 billion. Chairman and Chief Executive Officer Rupert Murdoch said: “Once again News Corporation showed strong operational momentum in the quarter, driven by significant growth at our Cable Network Programming and Filmed Entertainment segments. With our disciplined approach to monetizing our brands, I believe we are better situated than ever to capitalize on the increasing global demand for our superior content." News Corp is currently trading at $20.37, a gain of $0.99 or 5.11%.