Viacom positive Q4

Viacom reported a 16 per cent gain in fourth-quarter earnings as it benefited from DVD sales and a strong performance at its core cable television division. Viacom earned $559.5 million, compared with $480.8 million during the same period a year earlier. Revenue jumped 19 per cent to $4.25 billion.

Philippe Dauman, Viacom's chief executive, said the company had benefited from improved ratings at MTV, its flagship network, as well as a continued shift of advertising dollars from traditional TV to cable. “To date, the slowdown in the economy has not affected our ad sales,” Dauman said.

You must be logged in to post a comment Login