Viacom 2Q profits fall, but beats expectations

May 01, 2013

Viacom is reporting an 18 percent drop in second-quarter net income due to lower revenue, especially from its filmed entertainment division that includes Paramount Pictures.

That still topped , however.

Viacom on Wednesday posted earnings of $478 million, or 96 cents per share, in the January-March period. That's down from $585 million, or $1.07 per share, in the same period a year earlier.

Revenue fell 6 percent to $3.14 billion from $3.33 billion.

Analysts, on average, had expected earnings of 95 cents per share on revenue of $3.18 billion, according to FactSet.

., based in New York, owns MTV, VH1, Comedy Central and other TV brands.

Explore further: GoDaddy races higher in Wall Street debut

Related Stories

Viacom adjusted profit falls in 1Q, beats Street

Jan 31, 2013

Viacom says its net income rose sharply in its first fiscal quarter from results depressed by a large accounting charge in a year ago. But its revenue fell due to drop at its Paramount studio business and lower advertising ...

EBay 1Q revenue grows but falls below estimates

Apr 17, 2013

EBay grew its earnings and revenue in the first quarter thanks to growth in its PayPal business and its e-commerce sites. But revenue fell shy of Wall Street's expectations, causing investors to send the company's stock lower ...

Viacom 1Q earnings shredded by 'Rock Band'

Feb 02, 2012

(AP) -- Viacom Inc., the owner of Paramount Pictures, MTV and Comedy Central, on Thursday posted a 65 percent drop in net income for the latest quarter, as it took a charge related to the "Rock Band" series ...

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.

Recommended for you

GoDaddy races higher in Wall Street debut

2 hours ago

GoDaddy shares surged in their Wall Street debut Wednesday, as the market welcomed the company that tries to make Internet domain management and website hosting sexy.

Dailymotion should stay in European hands, France says

7 hours ago

France opposes exclusive talks between Orange and Hong Kong's PCCW group for a 49 percent stake in Dailymotion, preferring a European partner for the French video-sharing platform, the finance ministry indicated ...

FTC's Google investigation probed by Senate antitrust chief

22 hours ago

The chairman of a U.S. Senate antitrust panel will look into the release of a confidential Federal Trade Commission report on an investigation of Google Inc.'s search business, which was closed in 2013 without an enforcement ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.