News Corp. stock gains as Dow Jones helps lift company to beat (NASDAQ:NWS)

News Corp. stock was higher after hours — (NASDAQ:NWS) +1.2%, (NASDAQ:NWSA) +3.9% — after the company beat consensus expectations on top and bottom lines with its fiscal third-quarter earnings.

Revenues dipped 1.6% as gains at Dow Jones couldn’t quite make up for declines in the company’s other businesses, particularly its real estate wing.

Net income fell to $59M from a prior-year $104M, though earnings before interest, taxes, depreciation and amortization fell just to $320M from $358M.

The company made “meaningful progress” from the first half of the fiscal year, CEO Robert Thomson said, pointing to revenues that were higher in constant currency and cost cuts starting to gain “traction.”

“These results demonstrate the fundamental differences in the character of News Corp compared with other media companies,” Thomson said. “In a period in which advertising was clearly insipid in certain parts of the world, our core non-advertising revenue has been particularly robust, highlighted by a 38 percent increase in revenues at the Dow Jones professional information business.”

Revenue by segment: Digital Real Estate Services, $363M (down 13%); Subscription Video Services, $477M (down 3%); Dow Jones, $529M (up 9%); Book Publishing, $515M (flat); News Media, $563M (down 3%).

EBITDA by segment: Digital Real Estate Services, $102M (down 26%); Subscription Video Services, $68 (down 14%); Dow Jones, $109M (up 24%); Book Publishing, $61M (down 9%); News Media, $34M (down 13%).

Dow Jones’ revenues from the professional information business rose 38%, in part due to the OPIS and CMA acquisitions, and accounting for ongoing double-digit growth in Risk and Compliance.

Meanwhile, advertising in its News Media segment fell 5% in absolute terms, but rose 2% in constant currency.