Viacom Inc. Q3 Profit Retreats 29%

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

The company said its earnings fell to $419 million, or $1.05 per share. This was lower than $591 million, or $1.47 per share, in last year's third quarter.

Analysts had expected the company to earn $1.01 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 1.6% to $3.11 billion. This was up from $3.06 billion last year.

Viacom Inc. earnings at a glance:

-Earnings (Q3): $419 Mln. vs. $591 Mln. last year. -Earnings Decline (Y-o-Y): -29.1% -EPS (Q3): $1.05 vs. $1.47 last year. -EPS Decline (Y-o-Y): -28.6% -Analysts Estimate: $1.01 -Revenue (Q3): $3.11 Bln vs. $3.06 Bln last year. -Revenue Change (Y-o-Y): 1.6%