Share “News Summary: Viacom 4Q earnings up 13 pct”

News Summary: Viacom 4Q earnings up 13 pct

Associated Press Modified: November 15, 2012 at 10:00 am •  Published: November 15, 2012
Advertisement

THE RESULTS: Viacom's net income grew 13 percent in the latest quarter even as revenue fell more than Wall Street expected.

WEAKNESS: Viacom didn't have a strong theatrical release in the quarter, and television ad revenue fell. Viacom has been struggling with audience weakness at its major TV networks.

OUTLOOK: Viacom says ad revenue is showing signs of improvement in the current quarter, though it likely won't be enough to show growth compared with last year. And while Viacom has eight movies out this quarter, the movie division expects to lose money until those movies are out on home video.