Affiliate Fees Drive Viacom Q4

Ad sales dip 5% amid ratings pressure
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Viacom reported a 9% rise in fiscal Q4 revenue, driven mainly by a big boost in affiliate fees as domestic ad sales fell 5% in the period.  

Revenue for the media giant came in at $3.99 billion, and adjusted net earnings from continuing operations attributable were $729 million ($1.71 per share), an increase of 10%.  

Revenues for the full fiscal year were $13.78 billion, substantially unchanged from the previous year, as higher Media Networks revenues were offset by lower Filmed Entertainment revenues. Full-year adjusted operating income grew 5% to a record $4.13 billion and adjusted net earnings from continuing operations attributable to Viacom rose 3% to $2.38 billion. Full-year adjusted diluted earnings per share from continuing operations increased 15% to an all-time high of $5.40. 

To read the full story, visit Multichannel.com.

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