Wednesday, August 20th19.6°C
22938
22588

Viacom posts 16 pct increase in fiscal 1st-qtr net income on lower film-related losses

NEW YORK, N.Y. - Viacom is reporting a 16 per cent 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 per cent 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 per cent to $2.54 billion, while filmed entertainment revenue dropped 30 per cent to $681 million.

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

The Canadian Press


Read more Business News

21623


Recent Trending




Today's Market
S&P TSX15514.45+37.28
S&P CDNX996.86-0.70
DJIA16952.4932.90
Nasdaq4527.731+0.217
S&P 5001983.70+2.10
CDN Dollar0.9137-0.0005
Gold1292.90-2.20
Oil95.27+0.79
Lumber355.80+3.20
Natural Gas3.808-0.069

 
Okanagan Companies
Pacific Safety0.185-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.24+0.04
Cantex0.065-0.005
Anavex Life Sciences0.260.00
Metalex Ventures0.0850.00
Russel Metals37.23+0.01
Copper Mountain Mining2.84+0.07
Colorado Resources0.18+0.01
ReliaBrand Inc0.077-0.003
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.225+0.025

 



20304

FEATURED Property
2048370103 3535 Casorso Road
2 bedrooms 2 baths
$119,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Cost of an Injury Lawyer

Let’s face it; nobody wants to pay for legal services if they do not have to, but if you have been injured in an accident you may have thought about hiring a lawyer to help you navigate your cla...


Going home to a bully!

Finally, after three months in New Brunswick, I am back home in the sunny Okanagan. It is a delight to be home and the lake, vistas, people and climate never disappoint. Like many people however, I...


Managing a business in 40 hours a week

My screen printing business, like many others, started as a one-man operation. It was located in a small building, not much better than a shack, with a telephone, a big table where I ate lunch and (oc...

_








Member of BC Press Council


22267