This should be good for NCP

  1. 5,316 Posts.
    Viacom in the US just report better than expect earning due to advertising market increase. NCP is to report soon and it should rub off from Viacom as long as the Dow doesn't crash tonight.


    Viacom profit jumps, signs of advertising rebound

    7/25/2002 7:34:58 AM
    NEW YORK, July 25 (Reuters) - Media group Viacom Inc. (VIAB) posted stronger second-quarter earnings on Thursday, reflecting evidence of a rebound in the advertising market that boosted results at its CBS television network and cable networks like MTV and Nickelodeon.

    The company reported a net profit of $547 million, or 31 cents a share, compared with $17 million, or 1 cent a share, a year earlier. Adjusted for goodwill accounting changes, year-earlier earnings were 29 cents a share.

    The average Wall Street estimate was 29 cents a share, with estimates ranging from 27 cents to 32 cents, according to Thomson First Call.

    Revenue rose to $5.85 billion from $5.72 billion a year earlier. The average Wall Street estimate was $5.85 billion, with a range of $5.76 billion to $6.03 billion, according to research firm Multex.

    Earnings before interest, taxes, depreciation and amortization (EBITDA) -- a key measure of cash flow -- increased 4 percent to $1.42 billion from $1.36 billion a year earlier. The average Wall Street estimate was $1.4 billion, with estimates ranging from $1.33 billion to $1.43 billion, according to Multex.

    Viacom said it expects double-digit percentage growth in earnings per share, operating income and EBITDA for the full year. It also forecast that escalating growth in the third quarter will build into the fourth quarter.

 
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