News Corp, controlled by media mogul Rupert Murdoch, topped analysts' estimates for quarterly revenue as the company benefited from a rise in online subscriptions and strong performance in its digitial real estate business. 

Company executives also pointed to improving advertising trends in the third quarter, despite a challenging print market.

They also also highlighted gains from the recent deal with Australian telecommunication and media company Telstra Corp. 

News Corp and Telstra in March agreed to combine Foxtel and Fox Sports Australia, with the US company holding a 65% stake in the combined entity. 

"The Foxtel-Fox Sports Australia consolidation is also expected to make circulation and subscription revenues the biggest revenue stream for News Corp for the first time," chief executive Robert Thomson said. 

"This should give us more protection against the vicissitudes of our volatile advertising market," he added. 

Revenue at the company's digital real estate unit, which houses property websites such as and, surged 27% to $279m in the third quarter. 

Average growth in digital subscriptions was more than 20% for Wall Street Journal, The Times and Sunday Times and The Australian in the first three months of 2018. 

Total revenue rose 5.8% to $2.09 billion, topping estimates of $1.99 billion, according to Thomson Reuters. 

Excluding items, the company earned 6 cents per share, in line with analysts' estimates.