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Viacom Issues Bleak Forecast in Another Blow Against Dauman

  • Earnings outlook trails estimates as ‘Ninja Turtles’ flops
  • Delay in streaming-video agreement also cuts into earnings
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Viacom Adds Profit Forecast to Dauman's Troubles

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Viacom Inc. forecast earnings for the quarter ending in June that lagged behind analysts’ estimates, adding to the woes of its leader under siege, Chief Executive Officer Philippe Dauman.

Profit will reach $1 to $1.05 a share in the fiscal third quarter, Viacom said Friday in a statement, That compared with $1.38, the average of analysts’ estimates compiled by Bloomberg. Earnings were hurt when a major film release, “Teenage Mutant Ninja Turtles: Out of the Shadows,” failed to connect with moviegoers.