Viacom (VIA) is expected to report Q3 earnings before the market open on Tuesday, November 4 with a conference call scheduled for 8:30 am ET.
Analysts are looking for a profit of 57c on revenue of $3.3B. The consensus range is 52c-61c for EPS, and revenue of $3.14B-$3.59B, according to First Call. Viacom hasn't been involved in many deals during the quarter, but Chairman Sumner Redstone's holding company, National Amusement's, divested a partial stake in the company. It's valued at $600M and will leave Redstone and NA a controlling interest in both Viacom and CBS (CBS). Viacom CEO Philippe Dauman says the company is focused on growing its business and not on acquisitions. Growth is expected to be fueled by September's release of "The Beatles: Rock Band" video game, as well as by strong initial sales of DVD and Blu-ray units for Paramount's "Transformers: Revenge of the Fallen." The slump in the ad market is expected to hurt revenue, but there is also expected to be a slight improvement in earnings.
Cowen analyst Doug Creutz said he expects "The Beatles" game, as well as favorable exchange rates, to give a boost to earnings. Shares rose 24% during the quarter.