Citing acquisitions and growth in digital ad revenues, Viacom (NYSE: VIA) reported 4Q net profit of $480.8 million, or 69 cents per share, compared to $129.5 million, or 17 cents per share, a year earlier.
Overall revenue rose 32 percent to $3.59 billion, while revenue at Viacom’s cable networks – the rechristened Media Networks – which include MTV Networks and Nickelodeon, climbed 4 percent to $2.1 billion and adjusted operating profit rose 6 percent in the quarter.
The company, which owns Paramount and purchased Dreamworks last year, saw its film division’s revenue double, with operating profit rising to $86.3 million, from an operating loss of $39.6 million a year earlier. Other highlights:
-- For the full year, revenues came in at $11.47 billion, a rise of 19 percent from $9.61 billion in 2005, reflecting a 7 percent increase in Media Networks revenues to $7.24 billion, led by an increase of 11 percent in affiliate revenues to $2.03 billion.
-- Worldwide ad revenues were up 6 percent to $4.29 billion
-- Full year adjusted operating income rose 10 percent to $2.86 billion compared to adjusted pro forma 2005 operating income of $2.60 billion. Earnings release | Webcast