Viacom Earnings Exceed Estimates on Fees for Cable Networks
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Viacom Inc., owner of the Paramount film studio and MTV, Nickelodeon and Comedy Central cable channels, reported fiscal second-quarter earnings that exceeded analysts’ estimates on higher fees from pay-TV systems.
Excluding items, profit jumped to 98 cents a share, New York-based Viacom said today in statement. Analysts predicted 89 cents, the average of estimates compiled by Bloomberg. Sales rose 2 percent to $3.33 billion, in line with projections.