Ad revenue sparks Viacom profit

Author:
Publish date:
Social count:
0

According to Dow Jones & Co. Inc., Viacom Inc. swung to a third-quarter profit, thanks
in part to a 14 percent increase in advertising revenue.

The company reported net income of $640.3 million Thursday, and revenue
rose 10 percent to $6.31 billion from $5.71 billion a year earlier.

Viacom's earnings before interest, taxes, depreciation and amortization -- a
measure of profitability preferred by media companies -- soared 56 percent to $1.53
billion from $976.9 million a year earlier.

The increase in advertising revenue spurred growth in all divisions.

Cable-network revenue grew 13 percent to $1.24 billion, led by double-digit ad-revenue growth at MTV: Music Television, Nickelodeon, TV Land, TNN: The National Network and Black Entertainment Television, as well as increases
in affiliate fees.

Revenue for the television segment, mainly comprised of the CBS and UPN
networks, grew 14 percent.

Related