Viacom (VIAB) Posts Q1 EPS of $1.29, Flat with Expectations

29iacom (NASDAQ: VIAB) reported Q1 EPS of $1.29, flat with the analyst estimate of $1.3. Revenue for the quarter came in at $3.34 billion versus the consensus estimate of $3.46 billion.

Media Networks adjusted operating income declined 1% due to higher programming expenses partially offset by revenue gains. Excluding the impact of foreign exchange, Media Networks adjusted operating income was flat for the quarter. Filmed Entertainment generated an adjusted operating loss of $60 million, an improvement of 19%, as higher revenues more than offset increases in film and distribution expenses.

Sumner M. Redstone, Executive Chairman of Viacom, said, “Viacom's powerful entertainment brands continue to lead the way in reaching global audiences with groundbreaking content. Our outstanding management team has positioned Viacom for continued success.”

Philippe Dauman, President and Chief Executive Officer of Viacom, said, “Viacom's focus on developing popular franchise properties and constantly expanding our growing international presence drove solid top line results and record earnings per share this quarter. We continued to deliver increased revenues in our media networks operations driven by steady growth in affiliate revenues, and also benefited from Paramount Pictures' Oscar-nominated Interstellar and our very successful company-wide franchise, Teenage Mutant Ninja Turtles.

“The media business is evolving faster than ever, but our mission remains unchanged: to continually develop more and better entertainment programming and deliver it to our engaged audiences on every screen and on every platform worldwide. To maintain our leadership position, we will continue to innovate and to manage our business as effectively and efficiently as possible, embracing change and adopting new technologies to better measure and monetize our content and meet industry-wide challenges. Viacom is financially strong and extremely well positioned for the future, with the talent and the creativity to grow our core business and continue to deliver increasing value to our investors.”

For earnings history and earnings-related data on Viacom (VIAB) click here.

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