Viacom (NYSE:VIA) is expected to report Q1 earnings before the market open on Thursday, April 29 with a conference call scheduled for 8:30 am ET.
Analysts are looking for a profit of 38c on revenue of $2.92B. The consensus range is 34c-42c for EPS, and revenue of $2.62-$3.4B, according to First Call. During the quarter Viacom pulled several of its TV programs from Hulu.com after being unable to make a deal on rights to distribute the shows. CEO Philippe Dauman said Viacom could return to Hulu but only if there was a way to monetize the content. Also during the quarter Google (NASDAQ:GOOG) accused Viacom of secretly uploading videos to YouTube, and Viacom said YouTube ignored copyrights. Barron's said it believes Viacom could become a takeout candidate and noted the improving advertising market. In addition, Barron's said a change in programming management at MTV appears to be paying off, and also commenting on Viacom's increasing international presence.
In March, Gabelli analysts said the company's domestic ad sales are expected to increase in-line with peers, or about 4%, this year. In addition, the firm believes Viacom will resume repurchasing shares in mid-2010.