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.

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: Viacom 4Q earnings, revenue up on 'Transformers'

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 ...

EBay 1Q revenue grows but falls below estimates

April 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'

February 2, 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 of video games.

Qualcomm 3Q results beat Wall Street estimates

July 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

Firms push hydrogen as top green energy source

January 18, 2017

Over a dozen leading European and Asian firms have teamed up to promote the use of hydrogen as a clean fuel and cut the production of harmful gasses that lead to global warming.

WhatsApp vulnerable to snooping: report

January 13, 2017

The Facebook-owned mobile messaging service WhatsApp is vulnerable to interception, the Guardian newspaper reported on Friday, sparking concern over an app advertised as putting an emphasis on privacy.

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.