Financial Roundup: Viacom Sags, WPP Soars
Viacom (2004, calendar Q4)
USA: The Media
Last year's final quarter saw the US media titan hit with a massive $18 billion (€13.64bn; £9.40bn) goodwill write-down on its radio and outdoor advertising units, reflecting the adverse business conditions within both sectors.
Viacom reported a net loss of $18.44bn ($10.99 a share) compared with a net loss of $385.4 million ($0.22 cents) a year earlier. Revenue during the quarter rose 6% to $6.29 billion.
WPP Group (2004 full year)
The globe's second largest agency holding company reported better than expected results with pretax profits of £546 million ($1.04bn; €702.4m), up year-on-year by fifteen per cent. The haruspices had predicted £532m.
Revenues soared to £4.3bn while operating margins rose to 14.1% which, WPP predicts, will rise to 14.8% by 2006.
The company boasts that it will outperform the market in 2005.
Data sourced from Wall Street Journal Online and BBC Online; additional content by WARC staff