Sunday, February 1st-0.8°C
24736
23931

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

24357


Recent Trending




Today's Market

 
Okanagan Companies

 



24356

FEATURED Property
19272473075 Beverly Place
4 bedrooms 3 baths
$2,195,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Leaving a job: changing careers

Many people, who find themselves out of work and with time on their hands, and money in their pockets due to lay-off, start thinking about a career change. If you weren’t happy with the directio...


Service fit makes happy employees

Finding the right employees for the front lines of your company is key to developing a great service attitude within your company. It is just as important as hiring the right accountant, manager, sale...


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...

_








Member of BC Press Council


24975