Media company Viacom recorded slightly more sales in the first quarter of its financial year. The Paramount film branch in particular grew considerably. This was partly due to the Transformers film Bumblebee, which did well in the movie theaters.
Paramount saw the most growth in films that appeared in cinemas. In addition to Bumblebee, Instant Family did well with Mark Wahlberg. At the home entertainment branch sales decreased because fewer DVDs and Blu-rays were sold. The studio’s television branch also generated more sales.
The television networks, which include MTV and Nickelodeon, also grew. However, due to disappointing currency effects, this growth was canceled out again. Sales amounted to just under 3.1 billion dollars. That was an increase of 1 percent compared to the same period a year earlier. Net profit decreased to 318 million euros, 41 percent less on an annual basis due to some non-recurring expenses and reorganization costs. Despite that decline, the profit was higher than analysts had expected.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at nicholas.dekramer@economicinform.com
