Viacom's Profit Falls Less Than Analysts Estimated
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Viacom Inc., the owner of Nickelodeon and Paramount studios, reported second-quarter profit that fell less than analysts estimated on higher box-office sales and pay-television fees.
Net income dropped to $407 million, or 65 cents a share, after a gain from the sale of MTV in Russia a year earlier, New York-based Viacom said today in a statement. Excluding some items, profit of 64 cents beat the 59-cent average estimate of 19 analysts.