Published November 14, 2013
Viacom’s (VIAB) fourth-quarter profit climbed 24% amid broad revenue growth, including advertising and filmed entertainment.
The media giant said Thursday it earned $804 million in the latest period, up from $650 million a year ago. On a per-share basis, earnings rose to $1.68 from $1.26.
Adjusted earnings, which excluded restructuring costs and other items, checked in at $1.55 versus $1.21.
Revenue jumped 8.6% to $3.65 billion.
Analysts were looking for earnings of $1.44 a share and revenue of $3.6 billion.
Viacom saw significant revenue growth in its various businesses. Media networks, the company’s largest division, logged a 7% increase in revenue to $2.46 billion on stronger results in domestic advertising and affiliate fees.
Domestic and worldwide advertising revenue both rose 10% year-over-year, while domestic and affiliate revenue were each up 6%.
Revenue from filmed entertainment was $1.21 billion, an 11% improvement. Theatrical revenue surged 31% thanks in part to the release of “World War Z” in the prior quarter, CEO Philippe Dauman noted.
Home entertainment revenue was up 24% on contributions from the “Star Trek” and “GI Joe” franchises.
Shares slipped 1% to $82.35 in early morning trading. Through Wednesday’s close, the stock had gained 57.6% since the start of the year.