Viacom Inc. has a market cap of $2.04 billion; its shares were traded at around $39.02 with a P/E ratio of 15.2 and P/S ratio of 0.2. VIA is in the portfolios of Donald Yacktman of Yacktman Asset Management Co., Jim Simons of Renaissance Technologies LLC.
This is the annual revenues and earnings per share of VIA over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of VIA.
Highlight of Business Operations:Worldwide revenues decreased $119 million, or 4%, to $2.786 billion in the quarter ended March 31, 2010 driven by a decrease of $201 million in Filmed Entertainment revenues. The decrease principally reflects the success of the DVD release of Dreamworks Animations Madagascar: Escape 2 Africa in the prior year period, for which there was no comparable title in 2010. Theatrical revenues also declined, primarily due to lower year-over-year revenues from the films originally released in the fourth quarter, which were partially offset by the strength of our current quarter releases, including Shutter Island. Media Networks contributed a partially offsetting increase of $73 million, principally reflecting increases in affiliate fees and advertising revenues.
Operating income increased $92 million, or 21%, to $534 million in the quarter ended March 31, 2010. Media Networks contributed $55 million of the increase, principally reflecting the higher affiliate and advertising revenues, partially offset by our continuing investment in programming. Filmed Entertainments operating loss narrowed by $37 million, principally reflecting lower costs due to fewer theatrical releases in the quarter.
Net earnings attributable to Viacom increased $68 million in the quarter ended March 31, 2010, principally due to the increase in tax-effected operating income described above. Diluted EPS from continuing operations increased $0.11 per diluted share from $0.29 in 2009 to $0.40 in 2010.
Worldwide revenues increased $73 million to $1.938 billion in the quarter ended March 31, 2010. Increases in affiliate and advertising revenues were partially offset by a decrease in ancillary revenues. Domestic revenues were $1.647 billion, an increase of $21 million, or 1%. International revenues were $291 million, an increase of $52 million, or 22%, with foreign exchange contributing 8 percentage points to international growth.
Operating expenses were flat at $715 million for the quarter ended March 31, 2010. Distribution and other expenses decreased $27 million, or 17%, principally driven by lower Rock Band costs. Production and programming expenses increased $27 million, or 5%, reflecting expenses associated with our continuing investment in programming.
Worldwide revenues decreased $201 million, or 18%, to $886 million in the quarter ended March 31, 2010. Domestic revenues were $422 million, a decline of $171 million, or 29%. International revenues were $464 million, a decline of $30 million, or 6%, including an 8-percentage point favorable impact from foreign exchange.
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