News Corporation released its fiscal fourth quarter earnings on Wednesday--the company's first earnings release since the phone hacking scandal erupted in July. The Rupert Murdoch-led media giant reported operating income of $8.98 billion in revenue during the quarter, and operating income of $982 million ($0.35 per share) compared to $902 million ($0.33 per share) reported in the fourth quarter a year ago--beating Wall Street estimates.
But the media is more interested in the earnings call with investors, scheduled to take place at 4:30 p.m.--the first time financial analysts and selected media members will have a chance to publicly grill Murdoch and co. about all things Hackgate.
The Cutline will be live-blogging the call. Refresh this page for updates:
4:05 p.m.: Murdoch's statement from the release: "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. It is important to note that there has been no material impact on our other operations. Our broad, diverse group of businesses across the globe is extremely strong today. The drivers of our businesses are intact, our position is strong and our future is promising."Read More »from Liveblog: News Corp.’s first earnings call since the phone-hacking scandal erupted