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New Viacom (No Radio) Q4 Revenues Up, Earnings Fall
February 23, 2006 at 6:27 AM (PT)
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The first financial report from the "new," radio-free VIACOM showed revenues up 9% to $2.72 billion in fourth quarter earnings but lower earnings, dropping from $378 to $220 million (45 to 29 cents/share). Excluding some one-time charges and a tax benefit, the earnings fell from $355 to $282 million (42 to 37 cents/share). The decline was blamed on poor results at PARAMOUNT PICTURES. The cable networks division, which includes MTV and VH1, produced a 16% revenue gain and a 15% earnings rise.

