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Viacom reports lower revenue and profit
May 1, 2013 / 11:20 AM / 5 years ago

Viacom reports lower revenue and profit

May 1 (Reuters) - Viacom Inc reported a 6 percent drop in revenue because of weakness at its Film Entertainment division, which includes the movie studio Paramount Pictures.

Total revenue for the quarter ending March was $3.14 billion slightly lower than analysts’ expectations of $3.19 billion, according to Thomson Reuters I/B/E/S.

Advertising revenue at its network of cable properties including MTV and Comedy Central rose 2 percent.

Earnings per share for the quarter before items were 96 cents versus 98 cents in the same period a year ago.

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