Pursuits
Viacom Profit Beats Estimates as ‘Transformers’ Movie Soars
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Viacom Inc. posted fourth-quarter profit that beat analysts’ estimates as the latest “Transformers” film and higher fees for networks like MTV countered lower advertising sales in the U.S.
Profit excluding some items rose to $1.71 a share, the owner of Comedy Central and Spike said today in a statement, topping the $1.68 average of estimates compiled by Bloomberg. Revenue grew 9.3 percent to $3.99 billion in the period ended Sept. 30, topping projections for $3.9 billion.