Viacom Tops Views, to Sell Harmonix
NEW YORK (TheStreet) -- Viacom (VIA) - Get Report said earnings and revenue rose in the September quarter, driven by growth in its media networks and filmed entertainment divisions.
Viacom also announced that it plans to sell Harmonix, which developed the Rock Band music video game franchise.
The company said adjusted net earnings from continuing operations rose 7% to $461 million, or 75 cents a share, from $432 million, or 71 cents a share, the year before.
Revenue grew by 5% to $3.33 billion from $3.17 billion, reflecting growth in the media networks and filmed entertainment units.
Analysts, on average, expected earnings of 69 cents a share on revenue of $3.3 billion.
Net earnings fell to $189 million, or 31 cents a share, from $463 million, or 76 cents a share, a year earlier.
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-- Written by Andrea Tse in New York.
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