Viacom profits up, ad sales weak
July 31, 2008
“Advertisers in a few categories, such as retail, automotive, and certain consumer goods, pulled back their on-air spending as they adjusted their own operating plans and product launches,” Viacom Chief Executive Philippe Dauman said. “Low ratings at a few of our networks also contributed,” he said, citing BET. The company did not issue a third quarter US ad sales projection.
Viacom net earnings from continuing operations climbed 3 per cent in the second quarter, revenue advanced 21 per cent to $3.86 billion for the quarter ended June