Viacom Inc. Profit Drops 12% In Q1

(RTTNews) - Viacom Inc. (VIAB) announced earnings for first quarter that decreased compared to the same period last year.

The company said its profit totaled $413 million, or $1.04 per share. This was lower than $470 million, or $1.18 per share, in last year's first quarter.

Analysts had expected the company to earn $0.84 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 5.4% to $3.32 billion. This was up from $3.15 billion last year.

Viacom Inc. earnings at a glance:

-Earnings (Q1): $413 Mln. vs. $470 Mln. last year. -Earnings Decline (Y-o-Y): -12.1% -EPS (Q1): $1.04 vs. $1.18 last year. -EPS Decline (Y-o-Y): -11.9% -Analysts Estimate: $0.84 -Revenue (Q1): $3.32 Bln vs. $3.15 Bln last year. -Revenue Change (Y-o-Y): 5.4%