Viacom 4th-qtr. profit rises, helped by higher advertising revenue, success of ‘World War Z’
NEW YORK, N.Y. – Viacom’s fourth-quarter net income rose 24 per cent, helped by the success of the film “World War Z” and greater advertising revenue.
For the period ended Sept. 30, Viacom Inc. earned $804 million, or $1.68 per share. That’s up from $650 million, or $1.26 per share, a year earlier.
Excluding a gain on the sale of some investments, restructuring charges and other items, earnings from continuing operations were $1.55 per share.
Analysts polled by FactSet expected earnings of $1.44 per share.
Revenue climbed 9 per cent to $3.65 billion from $3.36 billion, bolstered partly by increased revenue from its media networks and filmed entertainment divisions.
Wall Street was looking for revenue of $3.58 billion.
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