News Brief
Viacom Earnings Up
Jul 25, 2002, 12:00 AM
Viacom Corp. reported record Q2 results on the strength of higher revenues in cable networks, TV and video. The company earned $547 million, or 31 cents a share, on $5.85 billion in revenues, compared to $17 million, or 1 cent per share, on $5.72 billion in revenues in Q2 2001. “Viacom turned in an outstanding performance in the second quarter of 2002, particularly in light of the continuing challenges of a slow recovery,” CEO Sumner M. Redstone said in a statement. Executives said there was an upswing in advertising-supported businesses, including strong upfront sales at CBS, UPN and its cable networks. Viacom’s radio holdings also reported higher revenues. Viacom believes that an improvement in the ad market will give it double-digit growth in earnings and income in 2002.
Recent Online Media Daily Articles
-
More Consumers Turn To Mobile To Research, Book Travel May 21, 8:30 a.m.
More than half of consumers used a mobile device to book travel in the last 90 ... -
Google+ Needs Android To Climb Out Of Experimental Phase May 20, 9:24 p.m.
Marketers continue to view Google+ as a fledgling network requiring experimentation, although the company released a ... -
AOL, Support.Com Settle Scareware Lawsuit For $8.5 Million May 20, 5:20 p.m.
Web company AOL and software vendor Support.com will pay $8.5 million to settle a lawsuit brought ... -
Gmail Hangouts Disable Google Voice May 20, 3:23 p.m.
Google's new version of Hangouts for Gmail eliminates Google Voice features. The move is frustrating heavy ... -
Digital Boost: Ziff Davis Acquires NetShelter May 20, 3:19 p.m.
Ziff Davis on Monday announced the acquisition of content network NetShelter from ad platform inPowered. Financial ... -
LikeableAds.com Launches, With Focus On Social Media Ads May 20, 3:04 p.m.
To keep up with growing demand from Madison Avenue, the social marketing consultants at Likeable Media ... -
Yahoo To Ramp 'Native' Ads On Tumblr May 20, 1:37 p.m.
With its $1.1 billion acquisition of Tumblr, Yahoo on Monday made clear that it plans to ... -
Gigya Improves Marketing, Adds 21 Social, Tech Partners May 20, 9:15 a.m.
Social services startup Gigya on Monday is expected to announce the addition of 21 social and ... -
Health/Wellness Shop Diversifies Into Happiness, Launches Platform To Fuel It May 20, 9:06 a.m.
The CementBloc, a spunky New York-based agency specializing in health and wellness marketing, is diversifying into ... -
Yahoo To Buy Tumblr For $1.1 Billion May 19, 7:26 p.m.
The Yahoo board has agreed to acquire popular blogging site Tumblr for $1.1 billion in cash, ...
Be the first to comment on "Viacom Earnings Up"
Leave a Comment