News Corp. said Wednesday that its net profit rose 36 percent in the first quarter of its 2011 fiscal year to 775 million dollars, beating the expectations of Wall Street analysts. Revenue at the Rupert Murdoch-owned media and entertainment giant rose to 7.4 billion dollars in the quarter which ended on September 30 from 7.2 billion dollars a year ago."Our global cable network programming business continues to lead News Corporation?s financial and operational momentum," Murdoch, News Corp.'s chairman and chief executive, said in a statement.
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