After reporting that ad revenues fell 3% in Q4 to $1.3 billion, Viacom CEO Philippe Dauman told analysts he expects to see “sequential improvement” in ad revenues in the current quarter.
Like other cable network owners, Viacom reported that scatter pricing is up for its key networks, such as MTV.
Q4 profits came to $1.09 per share (excluding one-time items), well above the Wall Street consensus of 88 cents. But that was due to cost cutting and recent successes for its movie studio.
Media Networks revenues were down 6% to $2.33 billion in Q4. Operating income for the division fell 3% to $921 million.