Intellectual Property Law

Viacom's Doing Alright: Revs, Profits Strong in Q1 08

By Cynthia Brumfield

Viacom issued its Q1 08 earnings results this morning and the global entertainment giant showed healthy revenue and profit growth during the quarter, thanks almost entirely to its media networks division and despite weakness in its entertainment or film division. (Download our Viacom historical and current financial data here.)

Revenues rose year-over-year by 14% to $3.2 billion while operating income jumped 28% to $567 million. If it weren't for the media networks, specifically Nickleodeon, Comedy Central and TV Land and, as Viacom pointed out, music video game Rock Band, the entertainment giant would have been under water.

Revenue at Viacom's media properties rose 16% to slightly more than $2 billion, while operating income climbed 15% to $694 million. The motion pictures part of the business, however, saw revenues rise by only 9% during the traditionally weak quarter for theatrical films, thanks entirely due to the global sale of DVDs.

Viacom's theatrical film business posted an operating loss of $63 million, a seasonal occurrence that was still better than the $106 million operating loss posted during Q1 07.

Check out Silicon Alley Insider for coverage of Viacom's earnings call.

Full post as published by IP Democracy on May 02, 2008 (boomark / email).