Viacom's stock jumps after profit, revenue fall less than expected [MarketWatch]
Via Renewables, Inc. - Class A (VIA)
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Source: MarketWatch
Viacom's stock jumps after profit, revenue fall less than expected Shares of Viacom Inc. VIAB, -2.24% rallied 3.6% in premarket trading Thursday, after the media network and filmed entertainment company reported fiscal fourth-quarter profit and revenue that beat expectations. Net income for the quarter to Sept. 30 fell to $307 million, or 76 cents a share, from $394 million, or 98 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share declined to 79 cents from 99 cents but was above the FactSet consensus of 76 cents. Revenue slipped 1.5% to $3.43 billion but topped the FactSet consensus of $3.42 billion, as media networks revenue of $2.61 billion beat expectations of $2.58 billion but filmed entertainment revenue of $851 million missed expectations of $865 million. Viacom is in the process of merging with CBS Corp. CBS, -2.41% , with the combined company to be named ViacomCBS. Viacom's stock has tumbled 17.5% over the past three months,
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