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Viacom: Fiscal 3Q Earnings Snapshot

August 9, 2018

NEW YORK (AP) _ Viacom Inc. (VIAB) on Thursday reported fiscal third-quarter profit of $522 million.

On a per-share basis, the New York-based company said it had net income of $1.29. Earnings, adjusted for one-time gains and costs, were $1.18 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.

The owner of Nickelodeon, MTV, Comedy Central and Paramount Pictures posted revenue of $3.24 billion in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $3.27 billion.

Viacom shares have decreased 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 7 percent. The stock has fallen 7 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VIAB at https://www.zacks.com/ap/VIAB

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