Thursday, November 10, 2011

UPDATE: Viacom States Nielsen Snafu Brought To Say No In Nickelodeon Toy Advertisements Predictions Strong 2012 Despite Economic Headwinds

The Sumner Redstone-controlledentertainment giant states it'll buy back $10B price of its shares, up from $4B — which will certainly make traders happy. However they’ll like the fiscal 4Q results: Viacom’s ongoing procedures had internet earnings of $583M, up 19% in the period this past year, on revenues of $4.05B, up 21.7%. Experts thought revenues will come in at $3.75B. And earnings from ongoing procedures, at $1.06 a share, exceeded predictions for $1.03. Vital’s shot entertainment unit was the star with revenues up 46% to $1.8B. The organization states which was mostly because of the strong box office sales for Transformers: Dark From The Moon. The media systems — the biggest operation with cable channels for example MTV, Comedy Central, and Nickelodeon — were up 8% to $2.3B. Ad sales were up 7% while rate increases increased affiliate costs 11%to $883M. “Our budget is really as strong as ever, which enables us to carry on to purchase the development in our companies, including new top quality television systems within the U.S. and worldwide, and Vital’s lately released animation label,” Boss Philippe Dauman states. The studio is “benefiting from the disciplined franchise-centric approach which has created an unparalleled quantity of hits,” headds, as the new stock repurchase effort shows “our confidence in Viacom’s lengthy-term outlook.” The organization spent $2.5B within the latest fiscal year purchasing back 19.7M shares, and it has $7.2B left in the recently elevated $10B authorization. Redstone states the financial results illustrate “the worth of our focused strategy and powerful leadership.”

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