Viacom’s revenues rose by 4 percent in the third quarter to reach $3.36 billion, with net profit from continuing operations rising by 5 percent to $538 million.
“Viacom delivered another strong quarter, as our core businesses and investments in strategic priorities fuel our growth and evolution,” said President and CEO Bob Bakish. “Importantly, we returned domestic advertising revenue to growth, which is a direct result of the strategy we have been executing for the last two years and the significant progress we have made in scaling advanced marketing solutions. Paramount’s momentum also continues, keeping us on track to deliver full-year profitability. As this quarter shows, Viacom’s brands are strong, our strategy is delivering, and our investments continue to position us well for the future.”
At the media networks, revenues were flat at $2.5 billion, with a slight gain in the U.S. to $2 billion and a 5-percent fall in international to $483 million due to currency fluctuations. Ad revenues were up 3 percent to $1.2 billion, while affiliate revenues slipped slightly to $1.2 billion and consumer products were down 18 percent to $89 million.
Filmed entertainment revenues were up 14 percent to $877 million, led by international, where revenues rose by 40 percent to $431 million. While theatrical revenues fell by 27 percent to $152 million, home entertainment rose to $161 million, licensing to $521 million and ancillary to $43 million.