• by Wayne Friedman , August 9, 2018

Viacom continues to suffer from lower TV advertising and affiliate revenue results -- along with stable or slightly improving results in other metrics.

Domestic TV advertising revenues decreased in its fiscal fourth-quarter period by 3% to $922 million, reflecting lower viewing impressions. Worldwide advertising sank 4% to $1.19 billion.

“They are still fighting the cord-cutting and some of the other issues that are probably plaguing them more then other companies,” says James Goss, senior investment analyst, Barrington Research Associates, on CNBC.

The positives, according to Goss, are Viacom’s higher TV viewing share in the industry. The company also posted higher ad pricing.

Barton Crockett, media analyst for B. Riley FBR, says these domestic TV ad results are “not yet evidencing the back-half improving trending toward F4Q18 growth that Viacom has guided for.” Still, all this was in-line with expectations, he said.

Domestic affiliate revenues sank 3% to $978 million -- an improvement from the prior quarter’s decline. Taking out revenues from SVOD platforms, revenues were flat. Worldwide affiliate revenues were 3% lower to $1.15 billion.

Viacom’s Filmed Entertainment revenues also sank 9% to $772 million in the quarter.

Domestic revenues gained 20% to $464 million; with international revenues falling 33% to $308 million, primarily due to a 58% drop in theatrical revenues, compared to the year before quarter, which included “Transformers: The Last Knight” and “Ghost in the Shell.”

Theatrical revenues were down 21% to $208 million, principally due to lower carryover revenues. Domestic theatrical revenues grew 58%, driven by the strong performance of current-quarter releases “A Quiet Place” and “Book Club.”

Analysts expect big results in the next quarter from the summer blockbuster “Mission Impossible: Fallout.”

Viacom’s overall revenues sank 4% to $3.24 billion, with net income sinking 25% to $511 million; the latter was primarily due to gains in selling its investment in EPIX a year before.