Viacom (VIAB) Tops Q4 EPS by 4c
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Viacom revenue misses expectations as ad sales fall
November 9, 2016 7:04 AM ESTBy Jessica Toonkel and Anya George Tharakan
(Reuters) - Viacom Inc (NASDAQ: VIAB), the owner of MTV, Comedy Central and Nickelodeon, reported lower-than-expected quarterly revenue on Wednesday, weighed down by a decline in domestic advertising sales and the absence of hits from its Paramount film studio.
Domestic advertising revenue at the New York-based company fell 8 percent in the fourth quarter ended on Sept. 30, the ninth consecutive quarterly decline.
Analysts on average had expected a 7.8 percent fall, according to market research firm FactSet StreetAccount.
Viacom's shares were down 1.1 percent in morning... More
