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Viacom, which is in the middle of fierce battles for control of
the company, said it expects to post adjusted earnings of about
$1.00 to $1.05 per share in the quarter.
Analysts on average were expecting a profit of $1.38 per share,
according to Thomson Reuters I/B/E/S.
Viacom's shares dropped 1.8 percent to $44.24 in premarket
trading on Friday.
Viacom had also expected to complete a significant video
streaming agreement in the quarter, but said that was delayed
due to "the recent and highly public" governance controversy
surrounding the company.
The media company, controlled by 93-year-old media mogul Sumner
Redstone, also said that it expects domestic ad sales to decline
about 4 percent.
Viacom will report its third-quarter results on August 4.
(Reporting by Anya George Tharakan in Bengaluru; Editing by
Savio D'Souza)
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