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Viacom higher after returning to domestic ad growth

|About: Viacom Inc. (VIA)|By:, SA News Editor

Viacom is higher premarket (VIA, VIAB +3.1%) after topping consensus with Q3 earnings even as investors keep one eye on a CBS deal announcement now expected any day.

The company showed a turnaround in domestic advertising after years of declines.

Revenues rose 3.7% to $3.36B, and EPS grew $0.02 to $1.20, easily beating expectations for $1.07.

"Importantly, we returned Domestic Advertising Revenue to growth, which is a direct result of the strategy we have been executing for the last two years and the significant progress we have made in scaling Advanced Marketing Solutions," CEO Bob Bakish says. "Paramount’s momentum also continues, keeping us on track to deliver full year profitability."

Revenue breakout: Filmed Entertainment, $877M (up 14%); Media Networks, $2.5B (flat).

Press release

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