Viacom 4Q profit up, helped by 'World War Z' filmNovember 14th, 2013 in Technology / Business
This Jan. 19, 2010, file photo, shows the entrance to Viacom's headquarters is shown in New York. Viacom Inc. reports quarterly earnings on Thursday, Nov. 14, 2013. (AP Photo/Mark Lennihan, File)
Viacom's fourth-quarter net income rose 24 percent, 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 percent 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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"Viacom 4Q profit up, helped by 'World War Z' film." November 14th, 2013. http://phys.org/news/2013-11-viacom-4q-profit-world-war.html