Viacom sees modest growth in fiscal 2014
| 14 November 2014
Viacom has reported a 9% increase in revenues for its fiscal fourth quarter of 2014, reaching $3.99 billion. The growth was mainly driven by gains in its media networks segment, which includes Nickelodeon, Comedy Central and MTV, among others.
Adjusted net earnings came in at $729 million, with adjusted diluted earnings per share of $1.71, which represents an increase of 10%.
Viacom's reboot of the Teenage Mutant Ninja Turtles franchise for Nickelodeon is one of the contributing factors to the growth, the company said.
"As we conclude another fiscal year, Viacom remains well-positioned as a creative leader with many of the world's most innovative media properties and best entertainment brands," said Viacom executive chairman Sumner Redstone.
Revenues for the full fiscal year were $13.78 billion, substantially unchanged from the previous year, as the higher media networks revenues are offset by lower filmed entertainment revenues. Full-year adjusted operating income grew 5% to a record $4.13 billion, and adjusted net earnings rose 3% to $2.38 billion.
Full-year adjusted diluted earnings per share from continuing operations increased 15% to an all-time high of $5.40.
"Our media networks achieved continued growth in the fourth quarter and the fiscal year," said Philippe Dauman, president and CEO of Viacom. "Viacom's affiliate distribution business remains a reliable engine for high-margin revenue expansion and provides significant opportunities to build new consumer experiences with long-term distributors and emerging technology partners alike."
Dauman also intimated that digital deals will be a big part of the picture going forward. "Viacom's record financial results in 2014 demonstrate the strength of our brands and continuing momentum for our strategy of investing in creativity, with a relentless focus on growing demographic and geographic markets and embracing new distribution platforms," he said.