$VIA Posts and Increase in Profits Despite a 17% Drop in Revenues

“NEW YORK (AP) — Viacom says net income grew 13 percent in the most recent quarter even as revenue fell more than Wall Street expected with the lack of a strong theatrical release.

Net income for the July-September quarter was $650 million, or $1.26 a share, compared with $576 million, or $1 a share, a year earlier.

After adjusting for one-time items, earnings came to $1.21. Analysts were expecting $1.17.”

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