Viacom (VIAB) Beats Q2 Earnings, Revenues Down Y/Y

Viacom VIAB is a leading entertainment content company that operates primarily in the United States and Europe. As a part of its newly-unveiled turnaround plan, the company intends to focus on six of its core brands- BET, Comedy Central, MTV, Nickelodeon, Nick Jr. and Paramount.

Viacom reports two business segments – Media Networks and Filmed Entertainment.

Media Networks offers program services, websites and other digital media services in the United States and abroad. The segment includes three groups- the Global Entertainment Group, the Nickelodeon Group and BET Networks.

Filmed Entertainment segment produces, finances, and distributes motion pictures and other entertainment content.

Zacks Rank: Currently, Viacom has a Zacks Rank #2 (Buy) but that could change following its second-quarter 2018 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key details from the just-released announcement below:

Earnings: Viacom’s adjusted earnings came in at 92 cents per share, which beat the Zacks Consensus Estimate by 12 cents.

Revenues: Revenues of $3.15 billion beat the Zacks Consensus Estimate of $3.04 billion but decreased 3% on a year-over-year basis.

Key Stats: Adjusted operating income increased 5% year over year to $641 million.

Stock Price: Shares price did not show any movement in the pre-market trading session.
 

Viacom Inc. Price

 

Viacom Inc. Price | Viacom Inc. Quote

 

Check back later for our full write up on this Viacom earnings report later!

 

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