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Revenues for the year stood at $33bn, up 15% from the $28.7bn reported in its 2007 financial year.

News Corp said that for the three months to 30 June, Fox Interactive Media posted revenues of $225m, up 23% year-on-year, and pre-tax profits of $6m. Those quarterly revenue numbers are below the $233m posted in the first three months of 2008, although they are up from $210m in the last quarter of 2007.

The company also revealed that nearly 50% of all ad orders on MySpace now include some form of hyper-targeting - a service that was launched in the UK earlier this month.

In the UK, newspaper arm News International's profits were slightly higher as a drop in depreciation costs on old printing equipment offset weaker advertising revenue.

News Corp's US television unit was among its weaker performers in the quarter, with pre-tax profit down 28% on the back of lower advertising revenue.

Rupert Murdoch, News Corp chairman and chief executive, said: "Although we clearly face more challenging macro-economic conditions in fiscal 2009 [the 12 months between 30 June 2008 and 30 June 2009], we're well positioned to deliver continued, if somewhat less robust growth.

"Our balance sheet is strong, we have solid operating momentum in many of our key businesses and, most importantly, our assets are diversified, both geographically and along business lines, enabling us to better respond to the economic challenges we may face this year."