Viacom Profit Rises 53% Fueled by ‘Jersey Shore’ Ratings
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Viacom Inc., owner of Nickelodeon, MTV and other cable networks, said second-quarter profit climbed 53 percent as shows such as “Jersey Shore” added viewers.
Net income increased to $376 million, or 63 cents a share, in the period ended March 31, from $245 million, or 40 cents, a year earlier, New York-based Viacom said today in a statement. Excluding a debt-extinguishment loss, earnings per share of 72 cents exceeded the 62-cent average of 22 analysts’ estimates.