Viacom blew away Wall Street estimates late Wed, announcing an increase in Q2 net profit by 27% to $416mln. Operating income increased 14% to $663.2mln. Total rev was up 24% to $2.85bln, which topped Reuters estimates of $2.53bln and sent shares soaring by nearly 4% in after-hours trading. Improved numbers stemmed largely from growth at Viacom’s cable programming properties, with cable-network segment rev up 8% to $1.75bln, including a 10% boost in domestic advertising rev to $969.1mln and an 11% increase in affiliate fees to $501.8mln. Viacom pres/CEO Tom Freston said the results came "despite a challenging cable advertising environment." He added that the company will continue executing an online and digital strategy "heavily focused on organic growth." — Disney can thank cable, theme parks and film for helping it to 3Q revenue of $8.6bln, up 12% from last year. Cable network sales climbed 12% to $2.2bln, while ABC provided a drag on profits. — QVC’s robust 2Q results included a 10% Y-over-Y rev increase to $1.63bln, a 17% jump in operating cash flow to $378mln and the passing of 91mln homes reached. "We demonstrated our pleasure [with the net] by repurchasing 19mln shares of stock in the quarter," Liberty chmn John Malone said. — Starz achieved a 2% rev uptick to $264mln, primarily due to a $14mln increase from a greater sub unit average for its services.

The Daily


Doing Good

TDS donated $5000 to the beautification efforts in Carlsbad, New Mexico. Carlsbad

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up