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Viacom Q4 advertising revenue fell 8 percent

Staff Writer | November 10, 2016
Viacom domestic advertising revenue fell 8 percent in the fourth quarter ended September 30, the ninth consecutive quarterly decline.
Viacom   Net profit plunged to $254 million
Viacom's total revenue fell 14.8 percent to $3.23 billion. Net profit attributable to Viacom plunged to $254 million, or 64 cents per share, from $884 million, or $2.21 per share, a year earlier.

Excluding special items, earnings of 69 cents per share beat the analysts' average estimate of 65 cents.

Revenue from Viacom's film business fell 24.5 percent to $774 million from a year earlier, when "Mission: Impossible - Rogue Nation" had a strong international performance.

The company booked a pretax charge of $206 million in the quarter for restructuring costs from the departures of certain senior executives.