×

Viacom’s 4Q Profit Increases On ‘World War Z,’ Ad Sales

Owner of MTV, Paramount beats Wall Street expectations

Viacom said fourth-quarter net income rose  about 24% on the strength of ticket sales for its “World War Z,” released  in the third quarter as well as advertising sales at its cable networks.

The New York owner of MTV, Comedy Central and the Paramount movie studio said net income rose to $804 million, or $1.68 a share, compared with $650 million, or $1.26 a share, in the year-earlier period. Revenue in the period increased 9% to $3.65 billion from $3.36 billion in the year-earlier quarter.

Wall Street analysts had expected the company to post $1.44 per share.

At the company’s cable networks, which also include Spike and VH-1, revenue rose 7% to $2.46 billion, owing to what the company said was an increase in both revenue from advertising and distribution.  Ad revenue rose 10% in both the company’s domestic and foreign operations, owing to rate increases. Revenue from the cable networks came to $2.29 billion in the year-earlier period.

At Viacom’s filmed-entertainment operations,  revenue rose 11% to $1.21 billion, owing to increase in revenue from theatrical releases as well as home entertainment. Viacom said revenue from theatrical releases rose 31% due to “carryover” revenue from “World War Z” in the third quarter. Home-entertainment revenue rose 24%. In the year-earlier period, revenue came to nearly $1.09 billion.

 

 

Popular on Variety

More Biz

  • Harvey Weinstein

    Weinstein Can Get a Fair Trial in Manhattan, Says D.A.

    The Manhattan District Attorney’s office argued on Friday that Harvey Weinstein can get a fair trial in Manhattan, and blamed the producer’s defense team for much of the pre-trial publicity in the case. Weinstein’s attorneys have asked an appellate court to transfer the case — which is set to begin on Sept. 9 — to [...]

  • Leonardo DiCaprio Madonna

    Leonardo DiCaprio, Madonna Call for Action on Amazon Wildfires

    As wildfires rage at an alarming rate in Brazil’s Amazon rain forest, celebrities are using their platforms to bring awareness to the deforestation’s impact and to call for action. In the past week, stars like Leonardo DiCaprio, Madonna, Cara Delevingne and Ariana Grande have taken to Instagram to express their frustration with the lack of [...]

  • 'The Durrells' TV Show

    Greece Sweetens Production Incentives as Struggling Country's Economy Rebounds

    It’s taken the better part of a decade for Greece to show signs of recovery from the crippling crisis that almost pushed it out of the Eurozone. Now, with the economy slowly on the mend, the government is doubling down on efforts to jump-start the local film industry, giving a dramatic overhaul to the incentive [...]

  • Warner Music Group Partners With Audiomack

    Warner Music Group Partners With Audiomack

    Warner Music Group announced it has entered a partnership with the music streaming and discovery service Audiomack, marking the platform’s first licensing deal with a major label. According to the announcement, the two companies will work together on content concepts and explore ways to break emerging artists, connecting music fans with rising talent before they [...]

  • Scooter Braun Congratulates Taylor Swift on

    Scooter Braun Congratulates Taylor Swift on ‘Brilliant’ Album and Campaign

    Two days after Taylor Swift fired off the latest salvo in her battle with Scooter Braun, the manager congratulated the singer on the campaign around her “brilliant” new album, “Lover,” which arrived last night. The message came after Swift said she will be re-recording songs from her first six albums, which are now owned by [...]

  • David Koch Obit

    David Koch, Libertarian Activist and Billionaire Philanthropist, Dies at 79

    David Koch, brother of Charles Koch and one of the owners of Koch Industries, the second-largest private company in the U.S., has died at 79. According to the New York Times, Charles Koch announced the news of his brother’s death in a statement. Though he did not attribute to David’s death to a particular cause, [...]

  • Beverly Hills Realtor Accused of Stealing

    Beverly Hills Realtor Accused of Stealing From Usher, Adam Lambert

    A Beverly Hills real estate agent has been arrested on charges of stealing from the homes of celebrities, including Usher, Adam Lambert and “Real Housewives” star Dorit Kemsley. Jason Emil Yaselli, 32, is accused of encouraging an accomplice, Benjamin Ackerman, to enter homes during open houses in order to steal from them. Ackerman allegedly sold [...]

More From Our Brands

Access exclusive content