Viacom Reports Results For June Quarter; Adjusted Earnings Per Share Up 4% To A Record $1.47
August 6, 2015 at 5:24 AM (PT)
VIACOM has reported financial results for the quarter ended JUNE 30, 2015, including a 4% increase in adjusted diluted earnings per share to $1.47, a record high for the JUNE quarter.
Quarterly revenues declined 11% to $3.06 billion due to lower theatrical revenues in Filmed Entertainment, which scheduled no wide theatrical releases in the quarter. Media Networks revenues increased $6 million to $2.60 billion, primarily due to higher affiliate fees. Absent an unfavorable 2% impact of foreign exchange, Media Networks revenues increased 2%. Worldwide and domestic affiliate revenues rose 2%, driven by rate increases. Excluding the impact from the timing of product available under certain distribution agreements, domestic affiliate revenues grew in the mid-single digits. Domestic advertising revenues decreased 9%, due to a decline in traditional ratings. Worldwide advertising revenues decreased 2%, which reflects a 58% gain in international advertising revenues driven principally by Channel 5.
Executive Chairman SUMNER M. REDSTONE said, “VIACOM is meeting the challenges of a rapidly-changing media landscape by creating exciting, unique content that connects with audiences on all platforms. Our management team is positioning VIACOM for success, and I am confident that we have the strategies in place to thrive.”