Viacom (VIAB) Releases Earnings Results, Beats Expectations By $0.03 EPS

Viacom (VIAB) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $1.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $1.02. The company posted revenue of $3107.00 million in the period, compared to analysts expectations of $3007.44 million. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.47 EPS.

Many Wall Street Analysts have commented on Viacom. Shares were Reiterated by FBR Capital on Jul 26, 2016 to “Outperform” and Lowered the Price Target to $ 59 from a previous price target of $67 .Viacom was Downgraded by Wells Fargo to ” Underperform” on Jul 11, 2016. Shares were Reiterated by Wedbush on Jul 7, 2016 to “Neutral” and Lowered the Price Target to $ 44 from a previous price target of $46 .

Viacom closed down -0.7 points or -1.58% at $43.65 with 42,92,642 shares getting traded on Tusday. Post opening the session at $44.16, the shares hit an intraday low of $43.11 and an intraday high of $44.85 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

Viacom Inc. (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs motion pictures short-form video applications games consumer products social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment. Viacom Media Networks’ program services reached approximately 700 million households in over 160 countries. Viacom Media Networks operates the international extensions of the multimedia brands MTV VH1 Nickelodeon Comedy Central and BET as well as certain program services. The Company’s Filmed Entertainment segment produces finances acquires and distributes motion pictures and other entertainment content. under the Paramount Pictures Paramount Vantage Paramount Classics Insurge Pictures MTV Films and Nickelodeon Movies brands.


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