Viacom Inc. (NASDAQ:VIAB) reported first-quarter fiscal 2018 (ended Dec 31, 2017) earnings per share (excluding 30 cents from non-recurring items) of $1.03, beating the Zacks Consensus Estimate of 95 cents. Earnings however, decreased 1% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Viacom depicted a gloomy picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for fiscal first-quarter earnings being revised 3% downward over the last 60 days.
Nonetheless, Viacom has an impressive earnings surprise history. The company delivered positive surprises in three of the past four quarters. The average earnings beat was 15.3%.
Revenues Lower Than Expected
Viacom recorded revenues of $3,073 million, which missed the Zacks Consensus Estimate of $3,140.4 million. Also, it compared unfavorably with the year-ago number of $3,324 million.
Key Q1 Statistics: Quarterly adjusted operating income decreased 4% year over year. Revenues in the Media Networks segment and Filmed Entertainment segment decreased 1% and 28% respectively.
Zacks Rank: Currently, Viacom carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Viacom earnings report later!
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Viacom Inc. (VIAB): Free Stock Analysis Report
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