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Despite Loss Viacom Quarterly Earnings Exceed Wall Street Expectations

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Viacom on Thursday reported they beat Wall Street expectations but showed lower fiscal second-quarter earnings compared to last year. The entertainment conglomerate, led by CEO Philippe Dauman, reported adjusted earnings of $467 million, which excludes a big charge. That mark is down 3 percent from their reported $482 million a year ago. Earnings per share reached $1.16, up from $1.08. Wall Street had on average projected earnings of $433.6 million and earnings per share of $1.06 excluding the charge. When including the charge, Viacom swung to a quarterly loss of $53 million, or 13 cents a share.

Added on the 30/04/2015 12:19:17 - Copyright : Wochit

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