Viacom profits fell 34 per cent in the first quarter, hurt by a global advertising spending slowdown. The company reported first quarter net profit of $177m, down from $270m, a year earlier. Revenue fell 7 per cent to $2.91bn.

Advertising at Viacom's cable networks, which as a sector is considered the most resilient compared with newspapers or local television broadcasters, fell 9 per cent in the US and 11 per cent globally. A stronger US currency hurt film exports, which led to a 4 per cent negative impact from foreign currency exchange, the company said.

…………..

Other posts by :

1. SpaceX: The verdict is in
2. Eutelsat shares rebound
3. Zombies; channels, ads, viewers
4. Analyst: How disruptive could Starlink be?
5. Bank: AST SpaceMobile has 2 year head start on Starlink
6. SpaceX wraps IPO; 8,000 launches by 2030
7. Markets braced for SpaceX IPO
8. Former SpaceX exec to build ‘space taxis’
9. Eutelsat shares crash despite good news

Categories: Articles, Business, Content, Results, Rights