“(Reuters) – Viacom Inc reported a 6 percent drop in revenue because of a weak slate of movies from its studio Paramount Pictures, but advertising revenue turned positive during the quarter.
The company said for the quarter that ended March 31, revenue was $3.14 billion, slightly lower than analysts’ expectations of $3.19 billion, according to Thomson Reuters I/B/E/S.
But its cable network properties, which include MTV and Nickelodeon, were climbing out of a slump as advertising revenue rose 2 percent in the United States.
Viacom has been struggling with a decline in TV ratings…”
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