Rises and Falls at Viacom

06 August 2007

NEW YORK: Media giant Viacom saw profits fall slightly in the second quarter of 2007, but overall revenues were up as a result of increased advertising income and a strong performance from releases such as Shrek from its Dreamworks film unit.

Profits fell at the group - which also owns MTV Networks, Paramount and Nickelodeon - by $3 million (€2.2m; £1.5m) to an overall total of $434m, but global ad income increased by 6% to $1.15bn, and overall revenues by 13% to $3.19bn.

President/ceo Philippe Dauman hailed "an outstanding quarter of results" for Viacom's movie offerings, such as the third instalment of the Shrek franchise and ice-skating comedy Blades of Glory.

Data sourced from Financial Times; additional content by WARC staff