Viacom: beats consensus in Q1
(CercleFinance.com) - Viacom reported flat adjusted net profit from continuing operations in the first quarter, at 413 million dollars.
At 1.03 dollar, the corresponding EPS, however, exceeded the consensus by nine cents.
The US group's revenues fell by 8% to under 3.1 billion dollars in the first three months of its fiscal year, a fall mainly due to its cinema business (-28%), while revenues from its media networks only shrank by 1%.
The parent company - amongst other groups - of MTV Networks and Paramount Studios is also "on track to achieve $100 million in new cost savings in the current fiscal year, and hundreds of millions more in 2019."
Copyright (c) 2018 CercleFinance.com. All rights reserved.
At 1.03 dollar, the corresponding EPS, however, exceeded the consensus by nine cents.
The US group's revenues fell by 8% to under 3.1 billion dollars in the first three months of its fiscal year, a fall mainly due to its cinema business (-28%), while revenues from its media networks only shrank by 1%.
The parent company - amongst other groups - of MTV Networks and Paramount Studios is also "on track to achieve $100 million in new cost savings in the current fiscal year, and hundreds of millions more in 2019."
Copyright (c) 2018 CercleFinance.com. All rights reserved.