Viacom, Inc. Stock Sinks on Earnings Miss

VIA missed EPS estimates by 8 cents

Viacom, Inc. (NASDAQ:VIA,VIAB) stock was down today following an earnings miss for its fiscal fourth quarter of 2017.

Viacom, Inc. Stock Sinks on Earnings Miss
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Viacom, Inc. reported earnings per share of 77 cents during its fiscal fourth quarter of the year. This is up from its earnings per share of 69 cents from the same time last year. However, it was bad news for VIA stock by coming in below Wall Street’s earnings per share estimate of 85 cents for the quarter.

During its fiscal fourth quarter of 2017, Viacom, Inc. reported operating income of $705 million. This is an increase over its operating income of $332 million that was reported in its fiscal fourth quarter of 2016.

Net income reported by Viacom, Inc. in its fiscal fourth quarter of 2017 was $674 million. The entertainment company reported net income of $252 million in the same period of the year prior.

Despite its poor earnings per share for the quarter, Viacom, Inc. did report revenue of $3.32 billion. This is better than its revenue of $3.23 billion from the same quarter of the previous year. It also beat out Wall Street’s revenue estimate of $3.24 billion for the fiscal fourth quarter of 2017.

Viacom, Inc. notes that its domestic advertising revenue in the fiscal fourth quarter of the year was flat. It says this is due to its rating growth being offset by a decline in subscribers. It’s domestic affiliate revenues were down by 3% during the quarter due to a loss of subscribers and lower SVOD revenue.

VIA stock was down 2% and VIAB stock was down 4% as of noon Thursday. VIA is down 21% year-to-date and VIAB is down 33% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/viacom-inc-stock-falls/.

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