Viacom on song
May 7, 2008
Viacom's quarterly net profit rose 33 per cent, beating Wall Street forecasts, on strong sales of the 'Rock Band' video game and higher advertising revenue at MTV Networks. The company said it has seen no slowdown yet in US advertising, temporarily addressing concerns that the credit crisis will lead to an advertising recession. First-quarter profit rose to $270 million, from $203 million a year earlier.