Viacom Inc. Announces 13% Fall In Q1 Earnings

(RTTNews) - Viacom Inc. (VIAB) revealed a profit for first quarter that declined from last year.

The company said its bottom line dropped to $470 million, or $1.18 per share. This was down from $538 million, or $1.29 per share, in last year's first quarter.

Analysts had expected the company to earn $1.51 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.7% to $3.15 billion. This was down from $3.34 billion last year.

Viacom Inc. earnings at a glance:

-Earnings (Q1): $470 Mln. vs. $538 Mln. last year. -Earnings Decline (Y-o-Y): -12.6% -EPS (Q1): $1.18 vs. $1.29 last year. -EPS Decline (Y-o-Y): -8.5% -Analysts Estimate: $1.51 -Revenue (Q1): $3.15 Bln vs. $3.34 Bln last year. -Revenue Change (Y-o-Y): -5.7%