Originally published at www.seclive.com
Viacom, Inc. (NASDAQ:VIAB) announced its fiscal fourth quarter results for fiscal 2013, posting profits that increased 24% from a year ago. Helped by the success of its latest film "World War Z", advertising revenue improved substantially to help the company. Viacom, which owns Paramount Pictures, Comedy Central, MTV, and Nickelodeon, reported a 9% increase in revenue from $3.36B to $3.65B, with its media networks segment reporting revenue increases of 7% to $2.46B, fueled from greater advertising revenues and other fees. Viacom posted earnings of $804M and $1.68 per share, up from $650M and $1.26 per share in the year-ago quarter. President and CEO Philippe Dauman said that in addition to "World War Z", home movie sales of the Star Trek and GI Joe franchises helped to further boost the company. For the full 2013 fiscal year, Viacom revenues dropped slightly from $13.89B to $13.79B while earnings increased from $1.98B and $3.69 per share to $2.4B and $4.84 per share.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.