News Corp has announced that net income increased 95% on the previous year, while revenue for the year ended June 2022 reached another record of US$10.4 billion.
The company said the growth in revenue was fuelled by record advertising and growing digital-only subscriptions.
?The business has been fundamentally transformed, we are vastly more profitable and have created a potent platform for even greater growth, to the benefit of all our investors and other stakeholders,? said News Corp chief executive, Robert Thomson.
News Corp shares have surged more than 5% on the results.