'Jersey Shore' Helps Lift Viacom Earnings
Viacom Inc (VIA) reported healthy earnings for the quarter ended Sept. 30 thanks in part to a strong showing from its cable networks.
These networks offer shows including "Jersey Shore", which features the boozy exploits of TV personalities such as diminutive beauty Snooki and Mike "The Situation" Sorrentino.
"Many of our cable networks today are achieving new ratings highs and producing hit shows that feed the cultural dialogue in the U.S. and abroad," Viacom said in a statement. "This creative success coupled with the improving economy has fueled our advertising revenues, which were up 8% in the U.S. this quarter."
Viacom said total revenue rose 5% to $3.3 billion in the quarter. Earnings rose 6% to 75 cents per share.