On Air Now

Current Show

Sportstalk   4:00 PM - 5:00 PM

SportsTalk with Joe and Pat

Show Info »

Upcoming Shows

Program Schedule »

Tune in to Listen

650 AM Hibbing, Minnesota

Weather

Current Conditions(Hibbing,MN 55746)

More Weather »
71° Feels Like: 71°
Wind: W 10 mph Past 24 hrs - Precip: 0.01”
Current Radar for Zip

Tonight

Mostly Clear 48°

Tomorrow

Mostly Sunny 73°

Tues Night

Isolated Thunderstorms 52°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Viacom turns the corner on its ad slump

(Reuters) - Viacom Inc reported a 6 percent drop in revenue because of a weak slate of movies from its studio Paramount Pictures, but advertising revenue turned positive during the quarter.

The company said for the quarter that ended March 31, revenue was $3.14 billion, slightly lower than analysts' expectations of $3.19 billion, according to Thomson Reuters I/B/E/S.

But its cable network properties, which include MTV and Nickelodeon, were climbing out of a slump as advertising revenue rose 2 percent in the United States.

Viacom has been struggling with a decline in TV ratings, which are the currency for commercials, that has been responsible for lower advertising sales. The more people watch a program, the higher the cost of the ad.

Last quarter, Viacom said ad revenue slipped 6 percent on weakness at Nickelodeon, its network that airs programming aimed at children.

Adjusted for special items, earnings per share were 96 cents, a penny ahead of expectations.

(Reporting by Jennifer Saba in New York; Editing by Gerald E. McCormick and Maureen Bavdek)

Comments