|
The
company, which operates popular TV channels including MTV,
Comedy Central and Nickelodeon, was also hurt by a fall in its
U.S. advertising revenue.
Revenue from Viacom's studio business, which includes Paramount
Pictures Corp, fell 44 percent to $479 million. The company had
benefited in the year-earlier quarter from the release of its
blockbuster "Transformers: Age of Extinction".
Viacom's movie slate for the fourth quarter includes
"Terminator: Genisys" and "Mission: Impossible - Rogue Nation",
which are expected to drive revenue.
The company, controlled by billionaire Sumner Redstone, said
advertising revenue fell 9 percent in its U.S. cable and media
network business.
Net profit from continuing operations attributable to Viacom
fell to $591 million, or $1.47 per share, in the quarter ended
June 30 from $611 million, or $1.40 per share, a year earlier.
Excluding items, Viacom earned $1.47 per share.
Analysts on average had expected a profit of $1.47 per share and
revenue of $3.22 billion, according to Thomson Reuters I/B/E/S.
Revenue fell 10.6 percent to $3.06 billion.
Viacom's shares closed at $51.41 on Wednesday on the Nasdaq.
(Reporting by Anya George Tharakan in Bengaluru; Editing by
Kirti Pandey)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed. |
|
