There’s nothing in this mornings Q2 report that’s likely to change the minds of investors who have taken Viacom‘s share price down about 6.4% so far this year. Net earnings attributable to Viacom at $610M fell 5.1% vs the period last year on revenues of $3.42B, -7.4%. Analysts expected the top line to hit $3.56B. Adjusted earnings at $1.42 a share missed the Street’s $1.44 target.
CEO Philippe Dauman called it “a solid quarter for Viacom” touting the $1B that the company returned to shareholders via buybacks and dividends as it “continued to build on our success in creating outstanding content.”