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Viacom: Fiscal 2Q Earnings Snapshot

NEW YORK (AP) _ Viacom Inc. (VIAB) on Friday reported fiscal second-quarter net income of $376 million.

On a per-share basis, the New York-based company said it had net income of 93 cents. Earnings, adjusted for one-time gains and costs, were 95 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The owner of Nickelodeon, MTV, Comedy Central and Paramount Pictures posted revenue of $2.96 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $3.03 billion.

Viacom shares have climbed 11% since the beginning of the year, while the Standard & Poor's 500 index has increased 15%. The stock has decreased 5% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VIAB at https://www.zacks.com/ap/VIAB