News Broadcasting
Viacom’s Q2 operating income up 10%
MUMBAI: Media conglomerate Viacom, which owns MTV, Nickelodeon and Paramount, among other entities, has reported its results for the second quarter ended 30 June 2004.
Viacom’s second quarter results were led by double-digit revenue and operating income increases in the company’s cable networks and television segments, as
well as revenue growth in every business segment.
For the second quarter of 2004, Viacom reported operating income of $1.4 billion. This marked an increase of 10 per cent from $1.3 billion for the same quarter last year. It also announced a 7 per cent revenue increase to $6.8 billion from $6.4 billion for the same quarter last year.
Operating income gains were led by increases of 23 per cent in Cable Networks and 35 per cent in Television. Advertising revenues went up by 11 per cent. For the six months ended 30 June 2004 operating income increased by 14 per cent to $2.6 billion from $2.3 billion
The company continues to believe it is on track to deliver full year revenue growth of 5 per cent.
