May 1 Viacom Inc reported a 6 percent
drop in revenue because of a weak slate of movies from its
studio Paramount Pictures, but advertising revenue turned
positive during the quarter.
The company said for the quarter that ended March 31,
revenue was $3.14 billion, slightly lower than analysts'
expectations of $3.19 billion, according to Thomson Reuters
But its cable network properties, which include MTV and
Nickelodeon, were climbing out of a slump as advertising revenue
rose 2 percent in the United States.
Viacom has been struggling with a decline in TV ratings,
which are the currency for commercials, that has been
responsible for lower advertising sales. The more people watch a
program, the higher the cost of the ad.
Last quarter, Viacom said ad revenue slipped 6 percent on
weakness at Nickelodeon, its network that airs programming aimed
Adjusted for special items, earnings per share were 96
cents, a penny ahead of expectations.