Viacom reported fourth-quarter profit of 79 cents a share that beat Wall Street forecasts and Paramount Pictures returned to full-year profitability, though revenue slipped 1% to barely undershoot …
reported fourth-quarter profit of 79 cents a share that beat Wall Street forecasts and Paramount Pictures returned to full-year profitability, though revenue slipped 1% to barely undershoot estimates.
Revenue came in at $3.4 billion for the quarter, down from $3.5 billion in the year-earlier quarter. Earnings of 79 cents declined from 99 cents in the prior-year period, but the exceeding of estimates and other positive signs in the report sent Viacom shares up 4% in pre-market trading. Paramount Pictures returned to profitability for the full year for the first time since 2015. Despite a 14% revenue slide to $851 million in the fourth quarter, operating income of $54 million improved 42% over the same quarter a year ago. The studio has not had a $100 million-plus domestic box office draw in 2019. Even so, films in the quarter likeAdvertising in the Media Networks unit has been another growth story after a long period of struggle.
The quarterly report is Viacom’s last as a stand-alone company. It expects to close its all-stock merger with CBS in early December. “Our strong performance in the fourth quarter capped off a pivotal year for Viacom and reflects the successful execution of our strategic priorities to evolve the company for the future,” CEO
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Why Wall Street Is Feeling Bullish as Disney Plus Blasts OffBob Iger has presided over many launches during his 14 years as Disney CEO: a theme park in Shanghai, state-of-the-art cruise ships, “Star Wars”- and “Avatar”-themed immersive attractions and even …
Lire la suite »
Wall Street slips on trade worries, Hong Kong unrestWall Street edged lower on Wednesday as President Donald Trump's threat to ...
Lire la suite »
The Dow was perfectly unchanged on Tuesday, a rare occasion on Wall StreetThe 30-stock average closed flat going out at least six decimal places. It was the first unchanged close for the Dow since April 24, 2014.
Lire la suite »
CBS Earnings Drop Amid Higher Content, Streaming Spending Ahead of Viacom MergerCBS Corp. earnings exceed Wall Street estimates in likely final report before Viacom merger, company touts record third-quarter revenue
Lire la suite »
Viacom Building Evacuated Following Smoke AlarmEmployees at Viacom's Hollywood building were told to evacuate following 'a large amount of smoke' emitting from the first floor
Lire la suite »
Viacom Q4 Profit Drops Despite Business ImprovementsViacom said net income in in its fiscal fourth quarter dropped, even as the entertainment company saw improvements in some of its chief revenue lines, a sign of the challenges its operations contin…
Lire la suite »