Viacom Tops Estimates as Pay-TV Fees, Tom Cruise Fuel Comeback
- ‘Mission: Impossible’ sequel tops global box office in quarter
- Company sees multipicture deal with Netflix as growth driver
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Viacom Inc. reported fourth-quarter revenue and earnings that topped analysts’ estimates, driven by a Tom Cruise blockbuster and a rise in the closely watched fees paid by cable and satellite companies.
The owner of cable networks MTV and Nickelodeon earned 99 cents a share in the quarter ended Sept. 30, excluding some items, beating expectations by 4 cents. Revenue of $3.49 billion topped the $3.37 billion anticipated by analysts.