Join        Login             Stock Quote

Viacom (VIAB, VIA) 4Q Earnings Increase 12.8 Pct On Lower Expenses, Beat Estimates

 November 15, 2012 08:16 AM

(By Balaseshan) Viacom Inc. (NASDAQ: VIAB) (NASDAQ: VIA) reported a 12.8% increase in quarterly earnings as 17% revenue drop was substantially offset by lower expenses. Despite revenue missing consensus, adjusted earnings exceeded Street's expectations.

Earnings from continuing operations for the fourth quarter were $643 million or $1.24 per share, higher than last year's $576 million or $1.00 per share. Adjusted earnings per share (EPS) from continuing operations rose to $1.21 from $1.06.

Revenue plunged 17% to $3.36 billion, due to lower Filmed Entertainment revenues.

[Related -Futures Mixed After Jobs Data; Linkedin Corp (LNKD), Dell, Inc. (DELL) In Focus]

Analysts, on average, polled by Thomson Reuters had expected a profit of $1.17 per share on revenue of $3.42 billion for the fourth quarter.

Media Networks revenues were flat at $2.29 billion, principally reflecting increased affiliate fees offset by lower advertising and ancillary revenues. Domestic affiliate revenues increased 12%, driven by rate increases and higher digital revenues.

Worldwide affiliate revenues increased 11%. Domestic advertising revenues declined 6% and worldwide advertising revenues decreased 7%.

Filmed Entertainment revenues plunged 39% to $1.09 billion, principally due to the number and mix of theatrical and home entertainment titles released in the quarter, and reflecting difficult comparisons with the significant impact of Transformers: Dark of the Moon in the fourth quarter of 2011.

[Related -Media Is Red Hot For Good Reasons]

For the quarter ended September 30, 2012, Viacom repurchased 14.2 million shares under its stock repurchase program, for an aggregate purchase price of $700 million. As of November 14, 2012, Viacom had $4.420 billion remaining in its $10 billion stock repurchase program.

At September 30, 2012, total debt outstanding, including capital lease obligations, rose to $8.15 billion from $7.37 billion last year. The company's cash balances decreased to $848 million at September 30, 2012 from $1.02 billion in the previous year.

"Paramount also continued to achieve solid margin growth in the fourth quarter and full year, and has an exciting pipeline in place with eight films in the first fiscal quarter, including Jack Reacher, DreamWorks Animation's Rise of the Guardians and the recently released Flight," said Philippe Dauman, Chief Executive of Viacom.

VIAB closed Wednesday's regular session down 1.70% at $47.99, while VIA ended down 1.54% at $48.71.



Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageTackling China's Debt Problem: Can Debt-Equity Conversions Help?

China’s high and rising corporate debt problem and how best to address it has received much attention read on...

article imageWill Job Growth Kill The Bear-Market Signal For Stocks?

It’s all about jobs now. Actually, it’s always been about jobs. But the stakes are even higher—perhaps more read on...

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.