Viacom (VIAB) Beats on Q1 Earnings

Viacom Inc.VIAB a leading entertainment content company that operates primarily in the U.S. and Europe. The company offers many of the world's best known entertainment brands through television, motion picture, Internet, mobile and video game platforms.

Viacomhas a healthy track record with respect to earnings. The company has delivered positive earnings surprises in three of the last four quarters, with an average beat of 1.85%.

Currently, Viacom has a Zacks Rank #3 (Hold), but that could definitely change following Viacom's earnings report which was just released. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Viacom's first quarter fiscal 2017 earnings (on an adjusted basis) of $1.04 per share beat the Zacks Consensus Estimate of 82 cents. Earnings declined 12% on a year-over-year basis.

Viacom Inc. Price and EPS Surprise

Viacom Inc. Price and EPS Surprise | Viacom Inc. Quote

Revenue: Viacom reported revenues of $3,324 million which surpassed the Zacks Consensus Estimate of $3,200.9 million. Revenues increased 5% on a year-over-year basis.

Key Stats to Note: Quarterly adjusted operating income fell 11% year over year. Revenues in the Media Networks segment increased 1% while the same at the Filmed Entertainment segment climbed 24%. Higher theatrical revenues boosted the Filmed Entertainment unit. Viacom, as part of a new strategic plan, intends to focus on six of its core brands- BET, Comedy Central, MTV, Nickelodeon, Nick Jr. and Paramount

Check back later for our full write up on this Viacom earnings report later!

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Viacom Inc. (VIAB): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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