American media giant Viacom saw second-quarter net profits rocket to $546.5 million (€550.7m; £347.3m), up from just $16.7m in Q2 2001.

But much of this dramatic surge can be put down to new accounting guidelines. Had these been in place twelve months ago, Viacom’s earnings would have been $524m.

Nevertheless, the group was also boosted by improved performances at its CBS broadcast TV network and cable stations such as MTV, following an upturn in advertising. Overall revenues rose 2% to $5.85bn.

Data sourced from: multiple sources; additional content by WARC staff