NEW YORK: Viacom has reported soaring fourth quarter profits of $480.8 million (€365m; £246.8m), up from $129.5m in the year earlier period. Revenue increased 32% to $3.59 billion, while operating expenses increased 20% to $2.76bn and income taxes dropped 21% to $208.2m.
The media conglomerate's television business, which includes cable channels MTV and Comedy Central, saw earnings increase 11%.
Its movie business reversed a year-earlier loss and posted a profit of $86.3m Revenue doubled to $1.57bn as the acquisition of the DreamWorks studio added $560m million to the top line.
The results signal the conclusion of Viacom's first year as a public company separate from the operations of CBS.
Data sourced from Wall Street Journal Online; additional content by WARC staff