News Corporation posted better-than-expected second-quarter fiscal 2015 results attributable to effective cost management, increased revenue at its Book Publishing division and expanded digital offerings. The quarterly earnings of $0.26 per share beat the Zacks Consensus Estimate by 8.3% but fell 16.1% year over year. Total revenue grew 2% and outdid Zacks’ expectation. However, decline in advertising revenue at News and Information Services segment remains a drag. Nevertheless, the company is in a transitionary phase looking to diversify its revenue streams and expanding its digital properties. Moreover, a strong balance sheet with a sturdy cash balance provides it with the financial flexibility to go for strategic acquisitions, operational enhancement and shareholder friendly moves.