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Viacom revenue rises 5.39 pct
February 9, 2017 / 12:13 PM / 8 months ago

Viacom revenue rises 5.39 pct

Feb 9 (Reuters) - Viacom Inc, the owner of MTV, Comedy Central and Nickelodeon, reported a 5.39 percent rise in quarterly revenue, helped by improved theatrical revenue and growth in domestic affiliate revenues.

However, net income attributable to Viacom fell to $396 million, or $1 per share, in the first quarter ended Dec. 31, from $449 million, or $1.13 per share, a year earlier.

Revenue rose to $3.32 billion from $3.15 billion.

The company also said it would focus its efforts on six “flagship” brands: Nickelodeon, Nick Jr., MTV, Comedy Central, BET and Paramount as part of a turnaround plan under new Chief Executive Officer Bob Bakish.

Reporting by Rishika Sadam in BengaluruEditing by Sriraj Kalluvila

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