15 November 2012 4:11 AM, PST | Deadline TV | See recent Deadline TV news »

Not much to crow about for the quarter that ended in September, although net profits benefited from foreign exchange rates and lower taxes. Viacom reported net earnings of $650M, +12.8% vs the period last year, on revenues of $3.36B, -17%. The revenue figure was lower than the $3.42B that analysts expected. But earnings per share for continuing operations, at $1.21, beat forecasts for $1.17. The biggest operation, Media Networks, generated revenues of $2.29B — virtually unchanged from last year — with operating income of $933M (-3%). Viacom says that a 6% decline in domestic ad sales, and 7% fall overseas, outweighed the rising fees it collected from pay TV distributors, up 12% in the U.S. and 11% elsewhere. Meanwhile, the Paramount-led Filmed Entertainment unit delivered revenues of $1.09B (-39%) and operating income of $195M (+5%). Viacom says that it faced “difficult comparisons” with last year which included Transformers: Dark Of The Moon, although revenues from TV increased 19% while ancillary »

- DAVID LIEBERMAN, Executive Editor

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