Rupert Murdoch said the financial performance was a good one Media giant News Corporation has seen its quarterly profits fall 22% on the back of weaker box office revenues and reduced DVD sales. The company, whose UK newspaper business News International has been marred by a phone-hacking scandal, made a net profit of $683m (£423m) in the three months to 30 June.
A year ago it made a profit of $875m. Its revenues rose 11% to $9bn.
Chairman Rupert Murdoch said it had been a "good" financial performance.
Yet he admitted the hacking scandal that resulted in the company closing its News of the World newspaper had caused some difficulty.
Mr Murdoch said: "While it has been a good quarter from a financial point of view, our company has faced challenges in recent weeks relating to our London tabloid, News of the World.
"We are acting decisively in the matter and will do whatever is necessary to prevent something like this from ever occurring again."