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.