Viacom Q3 Revenues Rise
November 1, 2005 at 6:50 AM (PT)
VIACOM third quarter revenues rose 10% year-to-year to $5.94 billion, with net earinings from continuing operations up 2% to $735 million (with net earings per diluted share from continuing operations up 12% to 47 cents). Free cash flow rose from $543 to $879 million. Radio revenues were up 2% to $542 million, with operating income up 1% to $225.2 million; the company says that the growth came from both local and national ad sales.
The company says that it remains on track for mid-single-digit growth in revenues and operating income and high single-digit growth in earnings pre share. VIACOM will be splitting into two companies, the "new" VIACOM (cable, PARAMOUNT PICTURES) and CBS CORP. (CBS, UPN, INFINITY), by the end of the year.