Viacom 2Q Profit Rises Slightly As Film Unit Crimps TV Results

A slight revenue increase at its TV operations helped Viacom improve profit in its second quarter, even as performance at its filmed-entertainment unit weighed on results.

The New York owner of MTV, Paramount and Comedy Central said net earnings from continuing operations increased 4% to $502 million, or $1.13 a share, compared with $481 million, or 96 cents per share in the year-earlier period. Viacom earned $1.08 per share excluding items.

Revenues for the quarter rose to $3.174 billion from $3.135 billion in the year-earlier period.

Performance at the company’s cable networks drove the quarter. Revenue at the operations rose 6% to $2.38 billion in the period, compared with $2.23 billion in the year-earlier period. Viacom said higher fees from video distributors and improved ad revenue helped results. Domestic ad revenue rose 2% while worldwide ad revenue rose 3% to $1.12 billion

Revenue at the company’s film operations, however, fell 12% to $831 million, compared with $941 million in the year-earlier quarter. Viacom cited  lower carryover revenues from prior period releases.  The company said theatrical revenues decreased 17% from the , with strong domestic carryover revenues from “The Wolf of Wall Street””  offset by lower international theatrical revenues. Worldwide home entertainment revenues decreased 30%, due to fewer current quarter releases and a decrease in carryover revenues.

More TV

  • Annie LeBlanc arrives at the Kids'

    Brat Announces New Mystery Series 'A Girl Named Jo' Starring Annie LeBlanc

    A slight revenue increase at its TV operations helped Viacom improve profit in its second quarter, even as performance at its filmed-entertainment unit weighed on results. The New York owner of MTV, Paramount and Comedy Central said net earnings from continuing operations increased 4% to $502 million, or $1.13 a share, compared with $481 million, or 96 […]

  • Lena Waithe

    Lena Waithe Joins GLAAD, WME Panel on LGBTQ Inclusion in Hollywood

    A slight revenue increase at its TV operations helped Viacom improve profit in its second quarter, even as performance at its filmed-entertainment unit weighed on results. The New York owner of MTV, Paramount and Comedy Central said net earnings from continuing operations increased 4% to $502 million, or $1.13 a share, compared with $481 million, or 96 […]

  • Jeffrey Tambor

    Jeffrey Tambor Talks Leaving 'Transparent,' Starting 'Arrested Development' Season 5 (Watch)

    A slight revenue increase at its TV operations helped Viacom improve profit in its second quarter, even as performance at its filmed-entertainment unit weighed on results. The New York owner of MTV, Paramount and Comedy Central said net earnings from continuing operations increased 4% to $502 million, or $1.13 a share, compared with $481 million, or 96 […]

  • ROSEANNE - "Eggs Over, Not Easy"

    Delayed Viewing Ratings: 'Roseanne' Returns on Top

    A slight revenue increase at its TV operations helped Viacom improve profit in its second quarter, even as performance at its filmed-entertainment unit weighed on results. The New York owner of MTV, Paramount and Comedy Central said net earnings from continuing operations increased 4% to $502 million, or $1.13 a share, compared with $481 million, or 96 […]

  • Daniel Bryan

    WWE Stock Climbs as Fox Nears Deal for 'SmackDown'

    A slight revenue increase at its TV operations helped Viacom improve profit in its second quarter, even as performance at its filmed-entertainment unit weighed on results. The New York owner of MTV, Paramount and Comedy Central said net earnings from continuing operations increased 4% to $502 million, or $1.13 a share, compared with $481 million, or 96 […]

  • The newly married Duke and Duchess

    Royal Wedding Draws 29.2 Million U.S. Viewers Across Networks

    A slight revenue increase at its TV operations helped Viacom improve profit in its second quarter, even as performance at its filmed-entertainment unit weighed on results. The New York owner of MTV, Paramount and Comedy Central said net earnings from continuing operations increased 4% to $502 million, or $1.13 a share, compared with $481 million, or 96 […]

  • Vernon Sanders Amazon

    Amazon Studios Names NBC Vet Vernon Sanders Co-Head of TV

    A slight revenue increase at its TV operations helped Viacom improve profit in its second quarter, even as performance at its filmed-entertainment unit weighed on results. The New York owner of MTV, Paramount and Comedy Central said net earnings from continuing operations increased 4% to $502 million, or $1.13 a share, compared with $481 million, or 96 […]

More From Our Brands

Access exclusive content