Viacom Projects Q3 Adj. EPS Below Estimates - Quick Facts

(RTTNews) - Viacom Inc. (VIAB, VIA) announced, based on preliminary information, the company expects adjusted earnings per share within the range of approximately $1.00 to $1.05 for the third quarter of 2016. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.38. Analysts' estimates typically exclude special items.

The company said its third-quarter results will be impacted by the theatrical underperformance of Teenage Mutant Ninja Turtles: Out of the Shadows as well as a delay in completing a significant SVOD agreement.

Viacom expects domestic ad sales declines for the third quarter to be approximately 4%. The company said it has substantially completed a very successful annual advertising upfront sales process.