Viacom Q3 Profits Rise on Ad Boost, Cable Performance

Viacom

VIACOM, owner of MTV, CMT, NICKELODEON and PARAMOUNT movie studios, saw its Q3 net income rise to $680 million ($1.69 a share), compared with $432 million ($1.09/share) over a comparable period last year, including $285 million from the sale of the company’s interest in the EPIX pay-cable service. Excluding one-time items, profit rose 12% to $471 million.

Revenue rose 8.3%, to $3.36 billion, thanks to the success of its latest "Transformers" film and raised ad rates for its cable properties.

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