- Viacom is lower premarket (VIA -2.5%, VIAB -0.7%) after posting fiscal Q4 results that missed expectations as the one-two punch of lower ad sales and a strong dollar took its toll.
- Revenues dropped mainly due to the films group, though domestic ad sales fell 7%. Excluding currency effects, revenue was off 2%.
- An uneven movie slate at Paramount also provided tough comps, as last year's Transformers: Age of Extinction went on to gross $1.1B worldwide, about the combined effect of this year's hits Terminator: Genisys and Mission Impossible: Rogue Nation.
- Affiliate fees boosted media networks, as revenues there were up 15% domestically and 10% worldwide.
- Revenue by segment: Media Networks, $2.79B (up 5%); Filmed Entertainment, $1.03B (down 24%).
- Operating income was down in both segments: 6% lower in Media Networks to $1.02B, and 43% lower in Filmed Entertainment, to $122M.
- Debt outstanding at quarter's end was $12.29B, down from a year-ago $12.7B.
- Conference call link
- Press Release