February 8, 2018 / 12:08 PM / 8 months ago

Viacom revenue drops 7.6 pct

Feb 8 (Reuters) - Viacom Inc, the owner of MTV, Comedy Central and Nickelodeon, reported a 7.6 percent fall in quarterly revenue on Thursday, due to a drop in the fees it collects from cable TV operators.

The company’s total revenue declined to $3.07 billion in its fiscal first quarter ended Dec. 31, from $3.32 billion a year earlier.

However, lower expenses helped Viacom’s net profit increase to $535 million, or $1.33 per share, from $396 million, or $1 per share, a year earlier. (Reporting by Muvija M in Bengaluru; Editing by Savio D’Souza)

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