Sunday, August 14, 2011

Media and Entertainment Earnings: Viacom, Cinemark

Viacom (VIA, VIA.b) posted second quarter earnings today that rose 37%, to $574 million, or $0.97 per share, up from $420 million, or $0.69 per share, last year.

The parent to MTV and Paramount Pictures said adjusted earnings totaled $0.99 per share, ahead of analyst expectations.

Revenue beat estimates as well, up 15% to $3.77 billion.

Also today, movie exhibitor Cinemark Holdings (CNK) posted second quarter earnings that rose just slightly, to $40.4 million, or $0.35 per share, from $39.7 million, or $0.35 per share, last year.

Revenue rose 15%, to $620.6 million.

Per-share results missed analyst estimates, although revenue beat forecasts.

For MarketNewsVideo.com, I'm Sayoko Murase.

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