Viacom (VIAB) Q4 Earnings Beat, Revenues Miss
Zacks Investment Research | Nov 08, 2016 09:34PM ET
Viacom Inc. (NASDAQ:VIAB) reported better-than-expected earnings in the fourth quarter of fiscal 2016. However, the company’s top line missed the Zacks Consensus Estimate.
Adjusted net income from continuing operations in the reported quarter was $273 million, down 56% from $614 million in the prior-year quarter. Adjusted earnings per share of 69 cents beat the Zacks Consensus Estimate of 65 cents but declined 55% year over year.
Total revenue in the quarter was $3,226 million, down 15% year over year. The top line also came in below the Zacks Consensus Estimate of $3,304 million. A strong U.S. dollar hurt the top line. Quarterly adjusted operating income of $538 million plunged 49% year over year.
At the end of the fourth quarter and fiscal 2016, Viacom had $379 million of cash & cash equivalents and $11,896 million of outstanding debt compared with $506 million and $12,267 million, respectively, at the end of fiscal 2015.
Segmental Performance
Media Networks
Quarterly revenues for the Zacks Rank #3 (Hold) company’s media networks segment were $2,483 million, down of 11% year over year. You can see Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.