Viacom earnings for the company’s fiscal second quarter of 2019 have VIAB stock up on Friday.
Viacom (NASDAQ:VIA,VIAB) reported earnings per share of 95 cents for its fiscal second quarter of the year. This is better than the company’s earnings per share of 92 cents from the same period of the year prior. It was also good news for VIAB stock by coming in above Wall Street’s earnings per share estimate of 80 cents for the quarter.
The Viacom earnings report for its fiscal second quarter of 2019 includes net income of $363.00 million. This is an increase over the company’s net income of $256.00 million reported in its fiscal second quarter of 2018.
Operating income reported in the Viacom earnings release for its fiscal second quarter of the year comes in at $573.00 million. That’s up from the company’s operating income of $456 million reported during the same time last year.
Viacom earnings for its fiscal second quarter of 2019 also have revenue coming in at $2.96 billion. This is a drop from the mass media company’s revenue of $3.15 billion reported in its fiscal second quarter of the previous year. This also has it missing analysts’ revenue estimate of $3.06 billion for the period, but that wasn’t dropping VIAB stock today.
There are a couple of reasons for the drop in revenue in the most recent Viacom earnings report. The first is that the company saw its Filmed Entertainment revenue drop 1% from last year. It attributes this to lower lower licensing revenues. The second is Media Networks revenue being down 7%, which is for a variety of reasons.
VIAB stock was up 1% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.