Viacom (VIAB) Tops Q3 EPS by 4c

Viacom (NASDAQ: VIAB) reported Q3 EPS of $1.05, $0.04 better than the analyst estimate of $1.01. Revenue for the quarter came in at $3.11 billion versus the consensus estimate of $3.01 billion.

Philippe Dauman, Executive Chairman, President and Chief Executive Officer of Viacom, said, “In the quarter, Viacom continued to execute on our strategic plan by increasing investment in high-quality original content, enhancing our connection to audiences, accelerating the growth of data-driven advertising products and further expanding our unmatched global reach. Ratings increased at several of Viacom's major networks, including Nickelodeon, Nick at Nite, VH1 and TV Land, and ratings trends at nearly all of our networks showed sequential improvement as we successfully completed a very strong upfront across our brands. Internationally, our media networks are driving strong double-digit revenue growth, with new channel launches, growing distribution partnerships and substantial ad sales gains. Viacom's third quarter results were impacted by the underperformance of Teenage Mutant Ninja Turtles: Out of the Shadows."

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