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.