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Article: Box office results lift Viacom revenue
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- November 4, 2009
- Author:
CopyrightCopyright 2009 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK - Viacom Inc., the owner of MTV Networks and the
Paramount Pictures film studio, said third-quarter profit rose 15
percent, more than analysts estimated, on higher box office revenue
and an easing advertising slump.
Net income increased to $463 million, or 76 cents a share, from
$401 million, or 65 cents, a year ago, the New York-based company
said yesterday. Excluding tax benefits and costs to refinance debt,
profit of 69 cents a share topped the 57-cent average of 22
analysts' estimates compiled by Bloomberg.
Box office sales for "G.I. Joe: The Rise of Cobra" and
"Transformers: Revenge of the Fallen" helped drive movie profit,
along with expense and job cuts, even as DVD sales ...