Viacom posts higher 4th-quarter revenue on advertising gains

Thursday, 14 Nov 2013 | 7:05 AM ET

Nov 14 (Reuters) - Viacom Inc reported a 9 percent rise in fiscal fourth-quarter revenue on Thursday, driven by strong advertising growth at its cable networks.

The company, which owns cable networks MTV and Comedy Central and the movie studio Paramount Pictures, posted total revenue of $3.65 billion, compared with analysts' expectations of $3.6 billion, according to Thomson Reuters I/B/E/S.

Both domestic and global advertising revenues increased 10 percent in the quarter.

Net income totaled $804 million, or $1.68 per share, compared with $650 million, or $1.26 per share, a year ago.

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