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Viacom’s Q2 revenues up 10 % to $5.9 billion
MUMBAI: US media conglomerate Viacom which owns MTV, Nickelodeon and Paramount has reported results for the second quarter ended 30 June 2005.
Revenues have increased by 10 per cent to $5.9 billion from $5.4 billion for the same quarter last year.
Viacom chairman and CEO Sumner M. Redstone also used the occasion to announce that once the media giant’s spin-off into two companies was complete (expected in the first quarter of 2006), he would be relinquishing the CEO’s post. Viacom co-COOs and co-presidents Tom Freston and Leslie Moonves would become CEOs of Viacom, Inc. and CBS Corporation respectively.
Viacom’s was led by growth in nearly every business segment and including gains of 14 per cent in cable networks and 24 per cent in entertainment as well as increases in outdoor and radio. Viacom’s revenues from advertising climbed six per cent. Operating income increased by four per cent to $1.4 billion, paced by increases of 14 per cent in Cable Networks, five per cent in outdoor and two per cent in radio. These gains more than offset declines at entertainment, principally due to the timing and related advertising costs of theatrical releases, and at Television.
Net earnings from continuing operations in the second quarter of 2005 rose by six per cent to $762 million from $717 million. Viacom’s free cash flow was $889 million compared with $990 million for the same prior-year period, as higher earnings from continuing operations were more than offset by higher cash taxes and increases in capital expenditures.
For the six months ended 30 June 2005, revenues increased by eight per cent to $11.4 billion, with growth in nearly every segment. Operating income was up by five per cent to $2.6 billion, paced by Cable Networks and Outdoor. Operating income declines in the second quarter in entertainment and television, were due primarily to the timing of print and advertising costs associated with the movie War of the Worlds, which will record the bulk of its theatrical revenues in the third quarter and has already achieved worldwide box office grosses of $532 million, and lower television revenues, which did not match prior year licensing of Star Trek: Deep Space Nine, Frasier and
Hollywood Squares.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
