The information was presented last Tuesday at the J.P. Morgan Technology, Media, and Communications Conference in Boston. He also discussed Bumblebee along with other projects and mergers to be the beginning steps in revitalizing Paramount Pictures. Viacom posted adjusted earnings of $383 million, or 95 cents per share, compared with $371 million, or 92 cents per share, as was posted in the year prior. Wall Street had estimated Viacom would only average 81 cents per share.
He was also presented with the current issue of trade talks between the U.S. and China and if he foresaw that impacting Viacom and other Hollywood studios. “Clearly there’s a lot of noise about China, creating some uncertainty…I don’t anticipate any long-term problem here, but we will have to see how the negotiations play out,” he said.
Viacom posted adjusted operating income of $29 million, compared to last years figure of just $9 million. There is currently estimated to be a loss of $20 million amid a 3.5 percent revenue decline, but spillover from Bumblebee supplementing the offset of theatrical decreases versus home video revenue declines.
In conclusion he stated “This quarter we executed strongly on our strategic priorities and made significant progress in advancing our evolution. We grew viewership share at our flagship networks, accelerated our Advanced Marketing Solutions and continued our momentum at Paramount Pictures. As the media landscape continues to segment across price points, we’re confident in our strategy, strong results and the opportunities ahead as we continue to position Viacom for the future”
. That seems like a fair price. Too bad I don't have the cash, and even if I did, I live in a small court, would have no place to park it.