In its second strong quarterly U.S. advertising result, Viacom says revenues posted better-than-average gains -- up from declines in the previous two quarters.
U.S. advertising revenues grew 6% to $946 million in its fiscal fourth quarter mostly due to its Advanced Marketing Solutions unit, which had a 83% rise. AMS revenues includes sales of addressable video inventory across Viacom's linear and digital platforms.
Viacom also saw a 6% rise in its previous third-quarter period. In the first two reporting periods of the year, U.S. advertising was down 3% and 2%.
Viacom's Thursday morning stock price was up 2.5% to $22.60.
When including worldwide advertising through its programming, revenues were up 1% to $1.2 billion. Taking out currency fluctuations, on a constant currency basis, advertising grew 4%.
For its entire fiscal-year reporting period, worldwide advertising dipped 2% to $4.7 billion -- up 1% on a constant currency basis.
Viacom's U.S. affiliate revenue inched up 1% to $1.0 billion; and was 6% higher when including worldwide affiliate revenue to $1.3 billion.
Viacom's filmed entertainment -- its Paramount studios -- was down 14% in revenue for the quarter to $851 million. But for the year, it inched up 1% to reach $3.1 billion for the year.
Film entertainment business rose 42% higher in adjusted operating income growth for the quarter to $54 million. For the full year it hit $78 million -- the first time in four years it has had full year profitability.
In the quarter, company-wide revenues was down 1% to $3.43 billion, with net profits attributable to Viacom 22% lower to $303 million.