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Viacom (NASDAQ:VIAB) reported fourth-quarter fiscal 2017 (ended Sep 30) earnings per share (excluding 90 cents from non-recurring items) of 77 cents, missing the Zacks Consensus Estimate of 85 cents. Earnings increased 11.6% 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 fourth-quarter earnings being revised 3.4% downward over the last 30 days
Nonetheless, Viacom has an impressive earnings surprise history. The company delivered positive surprises in each of the past four quarters. The average earnings beat was 19.2%.
Revenues Higher Than Expected
Viacom recorded revenues of $3,319 million, which surpassed the Zacks Consensus Estimate of $3,240.5 million. Also, it compared favorably with the year-ago number of $3,226 million.
Key Q4 Statistics: Quarterly adjusted operating income increased 7% year over year. Revenues in the Media Networks segment and Filmed Entertainment segment increased 3% and 2% respectively.
Viacom has announced the renewal of distribution with Charter Communications (NASDAQ:CHTR). Additionally, the companies have also partnered for the co-production of original content and collaboration of advanced advertising.
Zacks Rank: Currently, Viacom carries a Zacks Rank #4 (Sell) 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.
Stock Movement: The year-over-year growth in earnings and the top line outperformance pleased investors. Consequently, shares of the company were up in pre-market trading at the time of writing, despite the earnings miss.
Check back later for our full write up on this Viacom earnings report later!
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