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Viacom Earnings

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ENTERTAINMENT
August 3, 2012 | By Meg James
Viacom Inc.'s profit fell short of Wall Street's expectations as the company continued to struggle with ratings declines at Nickelodeon and other cable networks while worldwide theatrical revenue took a nose dive. For the April-June period, the New York-based media company controlled by mogul Sumner Redstone generated net income of $534 million, or $1.01 a share, compared with $574 million, or 99 cents, for the year-earlier period.  Fiscal third-quarter revenue came in at $3.24 billion, a 14% decline from $3.77 billion in the prior year period.
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ENTERTAINMENT
November 15, 2012 | By Meg James
Wall Street analysts are nervous about Viacom Inc.'s short-term growth amid a ratings slump at the company's key television networks. Ratings are down about 30% this season at MTV, the company's signature cable channel. The youth-skewing network also is losing its juggernaut franchise "Jersey Shore," which could make matters worse.  And for the last year, Viacom's other major cash cow, Nickelodeon, has been struggling to stop the flight of young viewers. TV networks provide about 90% of the Viacom's profits.  On Thursday, Wells Fargo media analyst Marci Ryvicker was blunt during a conference call with analysts to discuss the company's fiscal fourth quarter.
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BUSINESS
November 2, 1996 | Times Staff and Wire Reports
Viacom Inc. said its earnings jumped 32% in the third quarter on rising revenue from MTV Networks, Paramount Pictures and Blockbuster Entertainment. The New York-based entertainment company said profit from continuing operations rose to $102.1 million, or 24 cents a share, from $77.5 million, or 17 cents, in the year-earlier quarter. Revenue rose 14% to $3.35 billion.
ENTERTAINMENT
August 21, 2012 | By Meg James
A shareholder has sued Viacom Inc., Executive Chairman Sumner Redstone and other company directors, contending the New York media company overpaid Redstone and his top two lieutenants by more than $36 million over four years. Robert Freedman, a Viacom shareholder since 2005, contends the formula used to calculate bonuses for Viacom's top executives was based on broad terms that are difficult to quantify, including "vision and leadership" and "continuing to navigate economic challenges.
BUSINESS
November 5, 1998 | JAMES BATES, TIMES STAFF WRITER
Viacom Inc.'s earnings from continuing operations soared in the third quarter, thanks to video sales of "Titanic," continued strength of its cable networks such as MTV, a strong year from Paramount Pictures and the ongoing turnaround at its Blockbuster Video unit. Net income in the quarter ended Sept. 30 dropped 68% to $138.4 million, or 34 cents a share.
BUSINESS
May 4, 1996 | Times Staff and Wire Reports
Viacom Earnings Off 61% in 1st Quarter: The parent of Paramount Pictures saw weaker profits from its entertainment and music businesses. Viacom Inc., which also owns the MTV and VH1 cable networks, Blockbuster Entertainment and Simon & Schuster publishing, said net income fell to $27.8 million, or 3 cents a share, from $71.2 million, or 15 cents, in the same period a year ago. Revenue rose to $2.80 billion from $2.70 billion.
ENTERTAINMENT
November 15, 2012 | By Meg James
Wall Street analysts are nervous about Viacom Inc.'s short-term growth amid a ratings slump at the company's key television networks. Ratings are down about 30% this season at MTV, the company's signature cable channel. The youth-skewing network also is losing its juggernaut franchise "Jersey Shore," which could make matters worse.  And for the last year, Viacom's other major cash cow, Nickelodeon, has been struggling to stop the flight of young viewers. TV networks provide about 90% of the Viacom's profits.  On Thursday, Wells Fargo media analyst Marci Ryvicker was blunt during a conference call with analysts to discuss the company's fiscal fourth quarter.
ENTERTAINMENT
August 21, 2012 | By Meg James
A shareholder has sued Viacom Inc., Executive Chairman Sumner Redstone and other company directors, contending the New York media company overpaid Redstone and his top two lieutenants by more than $36 million over four years. Robert Freedman, a Viacom shareholder since 2005, contends the formula used to calculate bonuses for Viacom's top executives was based on broad terms that are difficult to quantify, including "vision and leadership" and "continuing to navigate economic challenges.
BUSINESS
May 3, 2008 | Thomas S. Mulligan, Times Staff Writer
Boosted by advertising growth at its cable TV networks and strong sales of its "Rock Band" video game, Viacom Inc. on Friday reported a 33% surge in first-quarter profit. Chief Executive Philippe P. Dauman said that despite the faltering economy, he expected the company to match the 8% global advertising growth rate that it achieved in the first quarter. Leading ad categories for Viacom's youthful audience -- including movies, fast food and video games -- tend to be "slowdown resistant," he said.
BUSINESS
May 4, 2012 | By Meg James, Los Angeles Times
Despite a vexing ratings slump at its children's network Nickelodeon, Viacom Inc.'s second-quarter profit soared 56%. The strong earnings were produced by higher fees from pay-television operators and lower expenses at the media company's Paramount Pictures movie studio. For the quarter ended March 31, Viacom earned $585 million, or $1.07 a share, up from $376 million, or 63 cents, a year earlier. Revenue grew 2% to $3.33 billion. "Across our divisions we sharpened our focus on execution and efficiency while continuing to invest in programming," Viacom Chief Executive Philippe Dauman told analysts in a Thursday morning conference call.
ENTERTAINMENT
August 3, 2012 | By Meg James
Viacom Inc.'s profit fell short of Wall Street's expectations as the company continued to struggle with ratings declines at Nickelodeon and other cable networks while worldwide theatrical revenue took a nose dive. For the April-June period, the New York-based media company controlled by mogul Sumner Redstone generated net income of $534 million, or $1.01 a share, compared with $574 million, or 99 cents, for the year-earlier period.  Fiscal third-quarter revenue came in at $3.24 billion, a 14% decline from $3.77 billion in the prior year period.
BUSINESS
May 4, 2012 | By Meg James, Los Angeles Times
Despite a vexing ratings slump at its children's network Nickelodeon, Viacom Inc.'s second-quarter profit soared 56%. The strong earnings were produced by higher fees from pay-television operators and lower expenses at the media company's Paramount Pictures movie studio. For the quarter ended March 31, Viacom earned $585 million, or $1.07 a share, up from $376 million, or 63 cents, a year earlier. Revenue grew 2% to $3.33 billion. "Across our divisions we sharpened our focus on execution and efficiency while continuing to invest in programming," Viacom Chief Executive Philippe Dauman told analysts in a Thursday morning conference call.
BUSINESS
May 3, 2008 | Thomas S. Mulligan, Times Staff Writer
Boosted by advertising growth at its cable TV networks and strong sales of its "Rock Band" video game, Viacom Inc. on Friday reported a 33% surge in first-quarter profit. Chief Executive Philippe P. Dauman said that despite the faltering economy, he expected the company to match the 8% global advertising growth rate that it achieved in the first quarter. Leading ad categories for Viacom's youthful audience -- including movies, fast food and video games -- tend to be "slowdown resistant," he said.
BUSINESS
November 5, 1998 | JAMES BATES, TIMES STAFF WRITER
Viacom Inc.'s earnings from continuing operations soared in the third quarter, thanks to video sales of "Titanic," continued strength of its cable networks such as MTV, a strong year from Paramount Pictures and the ongoing turnaround at its Blockbuster Video unit. Net income in the quarter ended Sept. 30 dropped 68% to $138.4 million, or 34 cents a share.
BUSINESS
November 2, 1996 | Times Staff and Wire Reports
Viacom Inc. said its earnings jumped 32% in the third quarter on rising revenue from MTV Networks, Paramount Pictures and Blockbuster Entertainment. The New York-based entertainment company said profit from continuing operations rose to $102.1 million, or 24 cents a share, from $77.5 million, or 17 cents, in the year-earlier quarter. Revenue rose 14% to $3.35 billion.
BUSINESS
May 4, 1996 | Times Staff and Wire Reports
Viacom Earnings Off 61% in 1st Quarter: The parent of Paramount Pictures saw weaker profits from its entertainment and music businesses. Viacom Inc., which also owns the MTV and VH1 cable networks, Blockbuster Entertainment and Simon & Schuster publishing, said net income fell to $27.8 million, or 3 cents a share, from $71.2 million, or 15 cents, in the same period a year ago. Revenue rose to $2.80 billion from $2.70 billion.
BUSINESS
April 28, 2000
Today * 4 p.m.: "Market Week With Maria Bartiromo." Barry Diller of USA Networks. (CNBC) * 5:30 p.m.: "Nightly Business Report." Larry Wachtel of Prudential Securities. (KCET; also at 6:30 p.m. on KOCE) * 8:30 p.m.: "Wall Street Week With Louis Rukeyser." Jim Paulsen of Wells Capital Management. (KCET) Saturday * 6:30 a.m.: "CBS MarketWatch Weekend." Microsoft; Silicon Valley author Po Bronson; and a look at Hennes & Mauritz. (KCBS) * 9 a.m.: "The Motley Fool Radio Show."
ENTERTAINMENT
May 1, 2013 | By Meg James
Paramount Pictures turned in another disappointing performance, contributing to an 18% drop in quarterly earnings for parent company Viacom Inc., the media conglomerate reported Wednesday. The Melrose Avenue movie studio suffered from the DVD blues and tough comparisons. Due in part to Paramount's thin film slate, Viacom's revenue declined 6% to $3.14 billion for the 2013 fiscal second quarter, ended March 31. For the quarter, Viacom's earnings fell 18% to $478 million, or 96 cents a share, compared to $1.07 a share, in the year-earlier period.
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