Viacom, parent company of Nickelodeon and Paramount Pictures, had operating income of $977.7 million in the fourth quarter of 2007, up from $827.3 million in year-previous quarter. Quarterly revenues rose to $4.3 billion from $3.6 billion.
For the year, Viacom’s operating income rose 6% to $2.9 billion, on an 18% rise in revenues to $13.4 billion.
Revenues and operating income were higher for both the year and the quarter at the company’s Media Networks division, driven principally by sales of the Rock Band video game and royalties from other games. For the year, the division’s revenues rose 12% to $8.1 billion and operating income rose 5% to $3.0 billion.
Quarterly revenues and income were also up at the Filmed Entertainment segment, but operating income for the year fell 22% to $103.5 million. Revenues, however, rose 28% to $5.5 billion.
[Source: Viacom]
