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NEW YORK (AP) – Viacom Inc. (VIAB) reported a fourth quarter profit of $ 394 million on Friday.
The New York-based company said its earnings per share was 98 cents a share. Earnings, adjusted for non-recurring gains and costs, are 99 cents per share.
The results have exceeded Wall Street's expectations. The average estimate of nine badysts surveyed by Zacks Investment Research indicated a profit per share of 95 cents.
The owner of Nickelodeon, MTV, Comedy Central and Paramount Pictures achieved a business turnover of $ 3.49 billion during the period, also exceeding Street's forecast. Six badysts surveyed by Zacks expected $ 3.34 billion.
Viacom shares have increased slightly more than 3% since the beginning of the year, while the Standard & Poor 's 500 index has increased by 2%. The stock has increased 29% 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 report on Zacks' actions on VIAB at https://www.zacks.com/ap/VIAB.
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