News Corp is on track to a record profit this financial year, according to CEO Robert Thomson.
He said the global media group had 11 successive quarters of EBITDA (earnings before interest, taxes, depreciation and Amortisation) growth.
“The second half of this year is looking auspicious and the third (March) quarter feels particularly strong,” he told the Morgan Stanley Technology, Media & Telecom Conference.
News Corp last month reported a favourable outlook as it posted revenue up 6% to $US2.4 billion in the December quarter with profitability improving 9%.
He told the Morgan Stanley conference that the company had changed and will continue to change, and doing so in a way that's increasingly profitable.
“We had record profits last fiscal,” he said. “We're frankly on track for record profits this fiscal.
“And we're very conscious of our obligation to the investors that have stayed with us on the journey.”
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