Viacom fiscal 2Q net income up 16 pct

January 30, 2014

Viacom is reporting a 16 percent jump in net income for the first quarter thanks in part to smaller losses at its film division.

The New York company, which owns Nickelodeon, MTV, Comedy Central and Paramount Pictures, earned $547 million, or $1.20 per share for the quarter ended Dec. 31. That compared with $470 million, or 92 cents per share, in the same quarter the year before.

Revenue fell 4 percent to $3.2 billion.

Analysts polled by FactSet expected a profit of $1.16 per share on $3.3 billion in revenue.

Revenue from media networks increased 6 percent to $2.54 billion, while filmed entertainment revenue dropped 30 percent to $681 million.

But losses related to filmed entertainment shrunk as a result of lower movie-related expenses.

Explore further: Viacom adjusted profit falls in 1Q, beats Street

Related Stories

Viacom adjusted profit falls in 1Q, beats Street

January 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 ...

Viacom 2Q profits fall, but beats expectations

May 1, 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.

Intel 4Q net income rises 6 pct (Update)

January 16, 2014

Intel's fourth-quarter net income rose 6 percent, as the company offset flat demand for its personal computer chips with higher sales of other products.

IBM posts higher 4Q net income (Update)

January 21, 2014

IBM's fourth-quarter net income grew 6 percent, surpassing Wall Street's expectations even though revenue fell. Its shares fell in extended trading after the results came out—and CEO Ginni Rometty said she's recommending ...

AT&T posts 4Q profit, higher revenue

January 28, 2014

AT&T is posting stronger-than-expected earnings for the final quarter of 2013, helped by higher revenue from mobile and Internet service subscribers.

Recommended for you

How to curb emissions? Put a price on carbon

September 3, 2015

Literally putting a price on carbon pollution and other greenhouse gasses is the best approach for nurturing the rapid growth of renewable energy and reducing emissions.

Customizing 3-D printing

September 3, 2015

The technology behind 3-D printing is growing more and more common, but the ability to create designs for it is not. Any but the simplest designs require expertise with computer-aided design (CAD) applications, and even for ...

Magnetic fields provide a new way to communicate wirelessly

September 1, 2015

Electrical engineers at the University of California, San Diego demonstrated a new wireless communication technique that works by sending magnetic signals through the human body. The new technology could offer a lower power ...

0 comments

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.