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Viacom Q2 profit tops estimates but revenue falls short

Ciara Linnane

Viacom Inc. said Friday it had net income of $363 million, or 90 cents a share, in its fiscal second quarter to end March, up from $256 million, or 64 cents a share, in the year-earlier period. Adjusted per-share earnings came to 95 cents a share, ahead of the 81 cents FactSet consensus. Revenue fell to $2.958 billion from $3.148 billion, below the FactSet consensus of $3.052 billion. Paramount Pictures' revenue fell 1% to $730 million, media networks' revenue came to $2.267 billion. Shares were slightly lower premarket, but have fallen 6.7% in the last 12 months, while the S&P 500 has gained 5.4%.