Viacom 4Q profit up, helped by 'World War Z' film

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Associated Press

Posted on November 14, 2013 at 11:06 AM

NEW YORK (AP) — Viacom's fourth-quarter net income rose 24 percent, helped by the success of the film "World War Z" and greater advertising revenue.

For the period ended Sept. 30, Viacom Inc. earned $804 million, or $1.68 per share. That's up from $650 million, or $1.26 per share, a year earlier.

Excluding a gain on the sale of some investments, restructuring charges and other items, earnings from continuing operations were $1.55 per share.

Analysts polled by FactSet expected earnings of $1.44 per share.

Revenue climbed 9 percent to $3.65 billion from $3.36 billion, bolstered partly by increased revenue from its media networks and filmed entertainment divisions.

Wall Street was looking for revenue of $3.58 billion.

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