NEW YORK (AP) - Viacom Inc. (VIAB) on Thursday reported fiscal third-quarter net income of $544 million.
On a per-share basis, the New York-based company said it had profit of $1.35. Earnings, adjusted for pretax gains and non-recurring gains, were $1.20 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The owner of Nickelodeon, MTV, Comedy Central and Paramount Pictures posted revenue of $3.36 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $3.38 billion.
Viacom shares have climbed 15% since the beginning of the year, while the Standard & Poor’s 500 index has increased 15%. The stock has risen 2% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VIAB at https://www.zacks.com/ap/VIAB
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