Both Viacom and Time Warner reported solid 1Q earnings last week. Viacom's profit rose 5% YOY to $502mln. Revenues grew 1% to $3.17bln, thanks to higher affil fees and ad revenues, which were partially offset by declines in filmed entertainment. Due to higher media networks revenue, operating income rose 3% YOY to %872mln. Media networks revenue increased 6% to $2.38bln. Domestic ad revenue was up 2% and global ad revenue increased 3% to $1.12bln. “Domestic ad was a bit light. The positive, however, was that this was more than offset by stronger affiliate revenue,” analyst Marci Ryvicker with Wells Fargo Securities wrote in a research note. TWX, on the other hand, saw its quarterly income reach $1.3bln from $754mln a year ago. At HBO, subscription revenue increased 8% YOY mainly due to higher domestic rates and the consolidation of HBO Asia and HBO South Asia. Revenues at Turner rose 5% YOY to $2.6bln, helped by 7% growth in subscription revenues and 5% growth in ad revenues.

The Daily


Final Debate Numbers

According to the early numbers, 55.2mln viewers tuned into the second and final showdown between Donald Trump and Joe Biden across Fox News

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