Viacom earnings, profits up - Broadcasting & Cable

Viacom earnings, profits up

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Reuters reported that Viacom Inc. posted stronger second-quarter earnings Thursday, possibly reflecting a rebound in the advertising market that helped
to boost results at its CBS television network and cable networks MTV: Music Television and Nickelodeon.

The company reported a net profit of $547 million, or 31 cents per share,
compared with $17 million (1 cent) a year earlier. Adjusted for
goodwill accounting changes, year-earlier earnings were 29 cents per share.

Revenue rose to $5.85 billion from $5.72 billion a year earlier.

Earnings before interest, taxes, depreciation and amortization increased 4 percent to $1.42 billion from $1.36 billion a year earlier.

Viacom reportedly said it expects double-digit percentage growth in earnings
per share, operating income and EBITDA for the full year.

It also forecast that escalating growth in the third quarter will build into
the fourth quarter, according to Reuters.

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