MTV parent Viacom posts 20% Q3 net income boost
MTV parent Viacom Inc. has reported a 20% rise in its net income in Q3.
Billboard reports that the company's fortunes have been put down to, in part, higher affiliate fees at its cable TV channels and an increase in advertising revenue.
Viacom's revenue exceeded expectations, increasing 14% to $3.69 billion and its Q3 (ending June 30) shares rose year-on-year from $1.01 per share to $1.31, equating to $643 million earnings. The adjusted share price amounted to $1.29.
Its media ...
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