On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 1360 AM Northeast, WI 97.5 FM Green Bay, WI

Weather

Current Conditions(Green Bay,WI 54303)

More Weather »
61° Feels Like: 61°
Wind: SSW 6 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Scattered Thunderstorms 84°

Tonight

Thunderstorms 68°

Tomorrow

Thunderstorms 76°

Alerts

Viacom turns the corner on its ad slump

(Reuters) - Viacom Inc reported a 6 percent drop in revenue because of a weak slate of movies from its studio Paramount Pictures, but advertising revenue turned positive during the quarter.

The company said for the quarter that ended March 31, revenue was $3.14 billion, slightly lower than analysts' expectations of $3.19 billion, according to Thomson Reuters I/B/E/S.

But its cable network properties, which include MTV and Nickelodeon, were climbing out of a slump as advertising revenue rose 2 percent in the United States.

Viacom has been struggling with a decline in TV ratings, which are the currency for commercials, that has been responsible for lower advertising sales. The more people watch a program, the higher the cost of the ad.

Last quarter, Viacom said ad revenue slipped 6 percent on weakness at Nickelodeon, its network that airs programming aimed at children.

Adjusted for special items, earnings per share were 96 cents, a penny ahead of expectations.

(Reporting by Jennifer Saba in New York; Editing by Gerald E. McCormick and Maureen Bavdek)

Comments