Viacom Inc. Class B (NASDAQ: VIAB) stocks surged 6.3% on 9th August, 2018 (as on 12:56 PM GMT -4 Source: Google Finance) driven by their sequential improvement in domestic revenue growth, strong gains in year over year ancillary revenues and benefits of cost transformation delivered by media networks. The operating income increased 1% to $752 million while adjusted operating income got down 5% to $767 million.
The Viacom’s fleet brands are increasing year-over year audience share and continues to maintain the top share of U.S. cable viewers. MTV is the fastest growing network among top 50 channels with BET posting highest-rated up 24% for the continuous fourth year. Comedy central and nickelodeon marked their ratings gain and making it the most watched channels. Viacom Digital Studios has a tremendous growth in quarterly total video views watch-time 112% and 104% resp. The filmed Entertainment revenues declined 9% to $772 million with 20% increase in domestic revenues to $464 million , the theatrical revenues fell to 21% while domestic theatrical revenues grew 58%. The company concluded its quarter results with profit as well as loss landing at undisturbed revenue.
The domestic ancillary revenues got boosted 31% to $93 million whereas international ancillary revenues increased 2% to $65 million. Benefits from cost transformation initiatives supported for 2% decrease in SG&A expenses and the adjusted operating income for media networks dropped down 8% to $799 million due to lower segment revenues.
The net earnings fell to $511 million, whereas adjusted net earnings increased 1% to $475 million. In the same way the diluted earnings per share declined $0.42 to $1.27 while adjusted diluted per share increased $0.01 to $1.18.
As per segment revenue , the media network revenues dropped down 2% to $2.50 billion, due to 17 % increase in world wide ancillary revenues to $158 million. There was even a decline the domestic and international revenues of 2% to $1.99 billion. the domestic advertising revenues fell 3% to $922 million, mainly due to lower linear impressions. The domestic affiliate revenues decreased 3% to $978 million whereas the international affiliate revenues decreased 2% to $175 million.