August 6, 2014 / 11:20 AM / 3 years ago

Viacom quarterly revenue falls 7 pct

Aug 6 (Reuters) - Viacom Inc, the owner of cable networks MTV and Comedy Central and movie studio Paramount Pictures, reported a 7 percent fall in second-quarter revenue, hurt by fewer movie releases.

Revenue at Viacom’s filmed entertainment unit, which accounts for a quarter of total revenue, fell 26 percent in the quarter ended June 30.

The company, which released the latest installment of its hit “Transformers” series late in the quarter, said theatrical revenue fell 43 percent due to the number and timing of movie releases.

Net income from continuing operations attributable to Viacom fell to $611 million, or $1.40 per share, from $647 million, or $1.32 per share, a year earlier.

Revenue fell to $3.42 billion from $3.69 billion a year earlier. (Reporting by Soham Chatterjee in Bangalore; Editing by Simon Jennings)

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