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Viacom trades lower after missing sales expectations

Jan. 29, 2015 10:14 AM ETViacom Inc. (VIA-OLD) StockVIA-OLD, VIABBy: Jason Aycock, SA News Editor
  • Viacom (VIA,VIAB) beat bottom-line expectations in fiscal Q1 though missing slightly on revenues. Segment breakdowns: Media Networks revenue of $2.65B up 4.4% Y/Y (higher affiliate fees and ad revenues); Filmed Entertainment revenue of $720M up 5.7% Y/Y.
  • Adjusted operating income of $1.1B in Media Networks was off 1% due to higher programming costs; Filmed Entertainment had an adjusted operating loss of $60M (19% better than last year) as revenues helped to offset higher film/distribution expense.
  • Previous release Teenage Mutant Ninja Turtles continued strong contributions to current-quarter film releases. Theatrical revenues up 6% and home entertainment revenues (two releases compared to none the prior year) up 16%.
  • After repurchasing about $750M in shares in fiscal Q1, Viacom had $5.62B remaining in a $20B buyback program.
  • Shares: (VIA -1.1%), (VIAB -1%)
  • Previously: Viacom beats by $0.01, misses on revenue (Jan. 29 2015)
  • Press release

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