Viacom Q4 advertising revenue fell 8 percentStaff 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
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. ■