Viacom 4Q earnings up 13 pct despite revenue drop

Nov 15, 2012

(AP)—Viacom says net income grew 13 percent in the most recent quarter even as revenue fell more than Wall Street expected with the lack of a strong theatrical release.

Net income for the July-September quarter was $650 million, or $1.26 a share, compared with $576 million, or $1 a share, a year earlier.

After adjusting for one-time items, earnings came to $1.21. Analysts were expecting $1.17.

Revenue fell 17 percent to $3.36 billion, below the $3.41 billion expected by analysts surveyed by FactSet.

.'s Paramount movie studio division saw revenue fall 39 percent to $1.09 billion in the fiscal fourth quarter because it had no release. A year ago, it had the latest "Transformers" movie.

Revenue at the cable TV network business was largely unchanged.

Explore further: Out-of-patience investors sell off Amazon

not rated yet
add to favorites email to friend print save as pdf

Related Stories

CenturyLink 3Q net income falls as expenses rise

Nov 02, 2011

(AP) -- Phone company CenturyLink Inc. says its third-quarter net income fell as rising operating expenses related to its April acquisition of larger phone company Qwest overshadowed increased revenue.

Qualcomm 3Q results beat Wall Street estimates

Jul 20, 2011

(AP) -- Wireless chip-maker Qualcomm Inc.'s results for the latest quarter beat Wall Street's expectations, and its projections for the current quarter are also above analysts' estimates.

Oracle fiscal 3Q net income up 78 pct

Mar 24, 2011

(AP) -- Database software maker Oracle Corp. said Thursday its net income rose 78 percent in the fiscal third quarter, helped by a rise in new software license sales and the benefit of three full months of ...

Recommended for you

Out-of-patience investors sell off Amazon

14 hours ago

Amazon has long acted like an ideal customer on its own website: a freewheeling big spender with no worries about balancing a checkbook. Investors confident in founder and CEO Jeff Bezos' invest-and-expand ...

States ascend into the cloud

21 hours ago

Seven years ago, the state of Delaware started moving computer servers out of closets and from under workers' desks to create a consolidated data center and a virtual computing climate.

Microsoft drops Nokia name from smartphones

23 hours ago

Microsoft said Friday it was dropping the Nokia name from its Lumia smartphones, rebranding following the acquisition earlier this year of the Finnish group's handset division.

Amazon's loss makes holidays a question mark

23 hours ago

Amazon's trademark smile icon is becoming more of a grimace. The world's largest online retailer reported a wider third-quarter loss than analysts expected and gave a disappointing holiday forecast.

User comments : 0