US media conglomerate Viacom has reported financial results
for the fiscal second quarter which ended 31 March.
decreased by six per cent to $3.14 billion, primarily due
to lower film revenues and partially offset by an increase
in Media Networks revenues as ad revenue increased over the
prior year. Operating income declined by nine per cent to
$847 million, reflecting lower film results and an increase
in Media Networks programming investment expense, partially
offset by the increase in advertising and affiliate revenues.
net earnings from continuing operations attributable to Viacom
were $481 million, and adjusted diluted earnings per share
from continuing operations were $0.96 per diluted share.
executive chairman Sumner M Redstone said, "Viacom continues
to build momentum by developing unparalleled entertainment
content for audiences throughout the world. I am fully confident
that our proven executive team will deliver even greater success,
by driving Viacom's vibrant businesses and returning outstanding
value for shareholders."
president CEO Philippe Dauman said, "Viacom's ongoing
strategy of focused investment in creative content and broad
multiplatform distribution of our brands accelerated improvement
in our business in the quarter. Viacom's media networks
are continuing to develop innovative new original programming
for all of our audiences, and building unique experiences
for our established brands that move beyond the television
a result, ratings are up at several networks, and advertising
revenues have returned to year-over-year growth, up two
percent, with eight points of sequential improvement over
the December quarter. Paramount is also executing on its
strategic plan, and successfully positioned 'G.I. Joe: Retaliation',
'Hansel and Gretel: Witch Hunters' and 'Pain And Gain' for
global success, and the year ahead remains strong, with
audiences eagerly awaiting our upcoming tentpole releases
- 'Star Trek Into Darkness' and 'World War Z'."