Viacom Misses Fiscal Q3 Financial Expectations As Paramount Cuts Revenues And Costs


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.”

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