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News Corp shares climb as revenue beats expectations
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News Corp has reported higher than expected quarterly revenue due to an increase in its digital real estate business and ad revenue growth.

Third quarter revenue rose five percent to $1.98 billion while analysts had forecast $1.88 billion.

Earnings per share came in at seven cents, up from the five cents analysts had expected.

News Corp's ad revenue edged 5.1 percent higher to $705 million.

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The Rupert Murdoch-owned company also attributed the numbers to to an expansion in their Digital Real Estate Services, which grew traffic, profits and revenue.

Revenue in News's digital real-estate business surged almost 13 percent to $219 million.

The News Corp-owned Wall Street Journal also helped achieve the result with its digital subscriber base growing to 53 percent of total subscriptions from 44 percent year-on-year.

CEO Robert Thomson said the increase in subscribers showed there was an appetite for "premium news" and "thoughtful commentary" even in a deteriorating newspaper market.

Shares in the Australian-listed company closed more than three percent.

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