News Corp. 3Q beats Wall Street expectations, says Investors Business Daily deal finalized

News Corp. beat Wall Street’s expectations for the quarter ended in March as it moved toward its most profitable year since it split off its entertainment arm in 2013.

The company posted third-quarter revenues of $2.34 billion, up 3 percent jump over last year — beatings analysts’ expectations for revenue of $2.19 billion. The publisher of the Wall Street Journal and the New York Post posted net income of $96 million, reversing a $1 billion net loss from a year ago tied to a $1.1 billion impairment charge. Adjusted earnings per share rose to 9 cents from 3 cents. Wall Street had been expecting 6 cents.