Media company Viacom posts 4Q earnings that beat forecasts

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NEW YORK — Viacom Inc. said Thursday that its fiscal fourth-quarter profit fell 9 percent from a year ago, but the media company's adjusted earnings and revenue still beat Wall Street expectations.

The company, which owns movie studio Paramount Pictures, said its fourth "Transformers" movie and its relaunched "Teenage Mutant Ninja Turtles" movie franchise helped boost revenue.

Viacom, which also owns cable networks Nickelodeon and MTV, reported net income of $732 million in its fiscal fourth quarter, compared with $804 million a year ago.

It had profit of $1.72 per share. Earnings, adjusted for non-recurring gains, came to $1.71 per share. Analysts expected earnings of $1.68 per share, according to FactSet.

Revenue rose 9.3 percent to $3.99 billion in the period, exceeding Street forecasts. Analysts surveyed by FactSet expected $3.87 billion.

Shares of the New York company rose $3.35, or 4.8 percent, to $72.60 in midday trading Thursday. Its shares had been down 21 percent since the beginning of the year as of Wednesday's close.

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Elements of this story were generated by Automated Insights using data from Zacks Investment Research. VIAB stock research report from Zacks.

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Keywords:Viacom,Earnings Report

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