socialmedian: Viacom's Profits Up As Recovery Sets In

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Source: paidContent.org

Nov 03, 2009

Summary

Viacom (NYSE: VIA) reported its Q309 earnings this morning, and its profits rose to $463 million from $401 million a year earlier, beating analysts expectations, while revenues declined to $3.32 billion from $3.41 billion. It rev decrease primarily reflects lower home entertainment and ad sales, which more than offset increases in affiliate sales and theatrical revenues, it said. ITher data points:
—Media Networks revenues were essentially flat at $2.12 billion, with solid growth in affiliate sales offset by lower advertising and ancillary revenues.
—Domestic ad revenues were down 4 percent, which is a 2-percentage point sequential improvement over Q209 results. Worldwide advertising revenues declined 5 percent.
—Strong sales of The Beatles: Rock Band video game were offset by lower home entertainment and consumer products revenues, resulting in a 3 percent decrease in worldwide ancillary revenues.
—Filmed Entertainment revenues were down 6 percent year-over-year to $1.22 billion as weakness in home entertainment sales more than offset growth in theatrical rev

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