Shares of Viacom Inc. (VIA)(VIA) were up 1.1% in premarket trading Thursday after the media company posted better-than-expected earnings and revenue. The company reported net income from continuing operations of $538 million, or $1.33 a share, up from $511 million, or $1.27 a share, a year prior. Adjusted EPS climbed to $1.20 from $1.18 and exceeded the FactSet consensus, which called for $1.07 in adjusted EPS. Revenue increased to $3.36 billion from $3.24 billion, whereas analysts had been modeling $3.32 billion. Viacom reported $877 million in film revenue and $2.5 billion in media-networks revenue. Shares have risen 15% so far this year, in line with gains for the S&P 500 .
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 08, 2019 07:46 ET (11:46 GMT)
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