News corp shares are on a strong run

By Chris Pash | 12 August 2019

Shares in major media company News Corp surged on the ASX today. 

A short time ago, they were up more than 7% to $21.35. 

The shares were being supported by majority-owned REA which broke through the $100 mark. A short time ago, they were up 6% to $102.75. 

A string of broker analysts have upgraded the online property classifieds player after it released full year results showing an 8% lift in revenue to $874.9 million and a 6% rise in net profit after tax to $295.5 million. 

UBS analysts describedd REA as "hot property" despite lower listings in a subdued market. 

Shares in property listing competitor Domain, majority owned by Nine, were 4.7% higher at $2.89. 

 news corp share price aug 12 2019

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