Viacom: Fiscal 4Q Earnings Snapshot
NEW YORK (AP) _ Viacom Inc. (VIAB) on Friday reported fiscal fourth-quarter earnings of $394 million.
On a per-share basis, the New York-based company said it had net income of 98 cents. Earnings, adjusted for one-time gains and costs, were 99 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The owner of Nickelodeon, MTV, Comedy Central and Paramount Pictures posted revenue of $3.49 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $3.34 billion.
For the year, the company reported profit of $1.72 billion, or $4.27 per share. Revenue was reported as $12.94 billion.
Viacom shares have climbed slightly more than 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 2 percent. The stock has increased 29 percent in the last 12 months.