Viacom: third-quarter profit up with 'Transformers' success.
(CercleFinance.com) - Viacom said on Friday that its quarterly profit has risen by 57%, boosted by the success of the latest episode of its blockbuster alien robot franchise "Transformers.
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The company, which is home to the MTV cable network and the Paramount film studios, said that third-quarter net profit rose to 680 million dollars, or 1.69 dollar per share, from 432 million, or 1.09 dollar per share, a year ago.
Excluding extraordinary items, earnings per share (EPS) for the period to 30 June was 1.17 dollar, above the consensus of 1.05 dollar per share.
Revenues rose 8% to 3.36 billion dollars, with filmed entertainment revenues growing by 36%, driven by the release of "Transformers: The Last Knight."
Over the quarter, Viacom also completed the sale of a 49.76% interest in premium entertainment network Epix, resulting in a gain of 285 million dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
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The company, which is home to the MTV cable network and the Paramount film studios, said that third-quarter net profit rose to 680 million dollars, or 1.69 dollar per share, from 432 million, or 1.09 dollar per share, a year ago.
Excluding extraordinary items, earnings per share (EPS) for the period to 30 June was 1.17 dollar, above the consensus of 1.05 dollar per share.
Revenues rose 8% to 3.36 billion dollars, with filmed entertainment revenues growing by 36%, driven by the release of "Transformers: The Last Knight."
Over the quarter, Viacom also completed the sale of a 49.76% interest in premium entertainment network Epix, resulting in a gain of 285 million dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.