12.11.2015 - Viacom increased profits
Viacom reported a revenue decline of 5.1% in the last quarter, which was worse than analysts' expectations and was due to the reduction in revenue from advertising in the United States. The company that owns Nickelodeon and Comedy Central and other assets declared decrease in ratings. Revenue from television advertising fell by 7%. At the same time, in Europe, revenues from advertising increased by 45%. In general, the profit totaled 884 million dollars against 732 million dollars in the same period last year. Revenues totaled 3.79 billion dollars. We expect improvement in the next quarter and expect growth by 15-20% per annum in the medium term after the correction.