Viacom Profit Jumps as Ad Sales Recover

Published on November 14, 2013
by Keach Hagey and Ben Fox Rubin

A ratings recovery at Viacom Inc.’s cable networks, as well as a turnaround at its film studio, sparked a 24% jump in the company’s net income in its fiscal fourth quarter.

Advertising revenue at its media networks unit rose 10% in the quarter ending Sept. 30, compared with the year-earlier quarter when several of the company’s cable networks were suffering a ratings slump that affected their ad revenue. In recent months, most of the networks have seen a lift in both ratings and advertising.

“A year ago we pledged to redouble our efforts to return ratings momentum and we delivered on that promise, particularly at our flagship networks, Nickelodeon and MTV,” Viacom Chief Executive Philippe Dauman said on an analyst conference call.

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