Viacom revenue in the quarter ended March 31...
Viacom revenue in the quarter ended March 31 fell 6 percent from the same period in 2012, to $3.14 billion, said a news release Wednesday. The company’s profit this quarter was $486 million, down $110 million from the same quarter…
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last year, it said. Viacom said the revenue drop was caused by a 20 percent drop to $941 million in Filmed Entertainment revenue, but touted a 2 percent, or $2.23 billion, increase in Media Networks revenue “due to an increase in advertising, affiliate and ancillary revenues.” The release also mentioned a 38 percent decrease in worldwide home entertainment revenue, which Viacom said was “due to the number and mix of titles released, and lower carryover and catalog revenues.” Viacom also blamed a 9 percent decrease to $847 million in operating income on the lower Filmed Entertainment results and an increase in Media Networks expenses. Viacom CEO Philippe Dauman said “ratings are up at several networks, and advertising revenues have returned to year-over-year growth."