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Viacom Profit Rises 16%, Led by MTV, Video Games

Cable network and movie studioowner Viacom said Thursday fourth-quarterprofit rose 16 percent on higher advertising sales at its MTVNetworks and strong sales of its "Rock Band" video game and"Transformers" DVDs.

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AP

Viacom shares gained less than 1 percent in after-hours trade, after ending down 37 cents at $41.42 on the New York Stock Exchange.

The owners of the Nickelodeon Network and Paramount moviestudios posted a net profit of $559.5 million, or 86 cents pershare, up from $480.8 million, or 69 cents per share, a yearearlier.

Revenue rose 19 percent to $4.25 billion, beating analystexpectations of $4 billion in revenue.

Excluding items the company's profit of 84 cents beat WallStreet expectations of 82 cents, according to ReutersEstimates.