Television

Viacom Inc misses EPS forecast but revenue beats expectations

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2017/11/17/vicom.jpg?itok=FWa_klte

Even as its India business, Viacom18, celebrates its 10th anniversary, Viacom Inc’s stock on Nasdaq came under pressure after missing the earnings per share (EPS) forecast for the fourth quarter ended September 30, 2017. The company also reported financial results for the fiscal year ended September 30, 2017.

The EPS for the quarter stood at 77 cents as against Wall Street’s estimate of 85 cents. For the corresponding period last year, the EPS were 69 cents.

During the fourth quarter of 2017, Viacom reported operating income of $705 million as compared to $332 million during the quarter in 2016. Net income for the quarter under review was $674 million, a significant increase over last year ($252 million).

Despite missing the EPS estimate for the quarter, the company did report revenue of $3.32 billion. This is better than its revenue of $3.23 billion from the same quarter of the previous year. It also beat out Wall Street’s revenue estimate of $3.24 billion for the fiscal fourth quarter of 2017.

Viacom President and chief executive officer Bob Bakish said, “In the fourth quarter and full year, we made strong progress against our plan to fundamentally stabilise and revitalise Viacom, with top line gains in both Media Networks and Filmed Entertainment segments driven by continued execution on our strategic priorities. We saw significant ratings increases across the portfolio, which drove sequential improvement in domestic advertising; our international business continues to expand, delivering double-digit revenue increases; and Paramount is demonstrating growth across multiple revenue streams as it rebuilds the theatrical slate and continues to grow its TV production business.”

He added that the company had completed several multi-year renewals of major distribution contracts, including the recent agreement with Charter, which secure broad, long-term carriage of Viacom's networks for subscribers and expand its relationships with distributors through new advanced advertising and content production partnerships.

The company established a stable base while reducing debt and improved free cash flow during the quarter.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/27/play.jpg?itok=5ZXN9Xmv
ITW Playworx wins sponsorship rights of ADT10 season 4

NEW DELHI: Ten Sports has awarded ITW Playworx the sponsorship rights of the Abu Dhabi T10 (ADT10) season 4. The fast-paced and pulsating ADT10 tournament is back with its fourth edition for all cricket enthusiasts around the world, and will commence from 28 January – 6 February 2021 at Zayed...

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/27/banijay.jpg?itok=_ko_-tZU
Banijay confirms internal data theft in cyber attack

MUMBAI: Independent production company Banijay has admitted that internal data was stolen in a cyber attack last week, potential impacting hundreds of current and former employees. The company said that certain personnel data as well as commercially sensitive information may have been compromised....

Television Production House Post Production
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/27/south.jpg?itok=ESeigc8W
Madras HC issues interim injunction against sexually explicit ads

KOLKATA: The Madurai bench of the Madras high court has issued an interim injunction against programmes or advertisements on TV channels displaying obscenity. In addition to that, the judges sought response from MIB on censorship of programmes telecast on channels. “Some advertisements though look...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/27/and.jpg?itok=H9_k5j56
Watch Hindi television premiere of the ‘The Grudge’, only on &pictures

MUMBAI: Ever imagined what it would be like to step into a house that is cursed by a vengeful ghost. Would you dare to go inside it? Well, this Friday the 27 November at 9pm, gather all the courage you got as ab darr hoga full on as &pictures will take you on a bone chilling ride with the Hindi...

Television TV Channels Movie Channels
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/27/zee_0.jpg?itok=met_v20G
Zee TV introduces a gamified filter for Brahmarakshas 2 on Instagram and Facebook

MUMBAI: After regaling audiences with three engaging stories in the festive month of October that capture the pulse of the emerging middle class India and the evolving relationship dynamics of society, Zee TV  now offers its viewers an escape into the world of fantasy with another intriguing season...

Television TV Channels Movie Channels
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/27/zee.jpg?itok=qZhvhIaQ
Zee Keralam celebrates second anniversary, thanks viewers for the exciting two years

MUMBAI: Zee Keralam, the hit entrant in the Malayalam entertainment TV arena, has completed two years of thriving existence. On the day of their second anniversary, Zee Keralam has brought out a brand film with the tag ‘Avesham Randiriatti’ featuring everyone from the Zee Keralam family including...

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/27/arnab.jpg?itok=1eR5w5HM
No prima facie evidence against Arnab Goswami in abetment to suicide case: SC

Detailing the reasons for granting interim bail to Republic TV editor-in-chief Arnab Goswami in its 11 November judgement, the Supreme Court highlighted that the bail will remain in force for four weeks, even after the Bombay high court decides on the journalist-cum-businessman’s plea to quash the...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/27/sprite.jpg?itok=8UW5ge2E
BARC week 46: Sprite makes a comeback in top brands list

MUMBAI: The Broadcast Audience Research Council (BARC) of India has released its data for top advertisers and brands for the period between 14 November and 20 November 2020. The data reflects the top 10 advertisers and brands across genres on India’s television, 2+ Individuals, NCCS. All...

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/27/1.jpg?itok=KpNJtQs5
Advertisers cannot be fence-sitters in today’s time: BBC’s Rahul Sood

2020 has been a wild year for the news industry. On the up side, viewership skyrocketed in the wake of Covid2019 pandemic; then again, it drew aggressive flak from viewers and advertisers alike for their reportage in a number of high-profile cases, including the Sushant Singh Rajput suicide.

Television TV Channels News Broadcasting

Sign up for our Newsletter

subscribe for latest stories

* indicates required