As we take a look in the rearview mirror, we’re reminded of the impressive financial strides made by the entertainment giant, Viacom, in 2013. ” target=”_blank”> then, Viacom reported significant growth in the fiscal third quarter, which ended June 30, 2013. Over the course of just nine years, we’ve seen continued growth and expansion in the media landscape, with Viacom remaining a driving force. It’s fascinating to reflect on the impressive growth figures of the past and makes one wonder what the future holds for this industry powerhouse. Let’s walk down memory lane and revisit these financial highlights that set a strong foundation for the ‘s current success.
Financial Highlights
Viacom reported a 14% increase in revenues to $3.69 billion, indicating higher revenues in both the Media Networks and Filmed Entertainment segments. Operating income rose 20% to $1.09 billion, as higher Media Networks affiliate fees and advertising revenues more than offset the impact of increased Filmed Entertainment distribution costs for two tentpole releases in the quarter.
Growth in Earnings and Stock Repurchase Program
Adjusted net earnings from continuing operations attributable to Viacom increased 24% to $635 million, and adjusted diluted earnings per share from continuing operations were up 33% to $1.29 per diluted share.Viacom also a significant expansion of the Class B stock repurchase program to $20 billion, from $10 billion.
Leadership Statements
Sumner M. Redstone, Executive Chairman of Viacom, and Philippe Dauman, President and Chief Executive Officer of Viacom, praised the ‘s strong results, attributing the success to aggressive content investment, operational execution, fiscal discipline, and improving economic conditions.
Looking Ahead
With a promising slate of programming and a strong focus on shareholder returns, Viacom’s future looks bright. Reflecting on these past achievements, we’re excited to see what Viacom and the larger media industry have in store for us in the coming years.
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