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Viacom beats quarterly revenue estimates

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By Reuters
Viacom beats quarterly revenue estimates
FILE PHOTO: The Viacom office is seen in Hollywood, Los Angeles, California, April 24, 2018. REUTERS/Lucy Nicholson   -   Copyright  LUCY NICHOLSON(Reuters)

(Reuters) – MTV-owner Viacom Inc <VIAB.O> beat Wall Street estimates for fourth-quarter revenue on Thursday, helped by a rise in domestic advertising revenue.

Net earnings from continuing operations attributable to Viacom fell to $303 million, or 75 cents per share, in the fourth quarter ended Sept. 30 from $386 million (£301.66 million), or 96 cents per share, a year earlier.

Total revenue fell to $3.43 billion from $3.49 billion, but was above the average estimate of $3.41 billion, according to IBES data from Refinitiv.

(Reporting by Neha Malara in Bengaluru and Helen Coster in New York; Editing by Anil D’Silva)