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Stocks V / Viacom, Inc.


Subject:  Looking good... Date:  10/26/2000  11:05 AM
Author:  HOGrider Number:  87 of 312

From a 25Oct2000 article in MorningStar that mentioned VIacom:

We continue to believe that Viacom VIA has excellent prospects because of its huge and diverse advertising outlets, powerful brands such as MTV, and the most popular show on TV, Survivor. Viacom on Wednesday reported better-than-expected earnings driven by continued strong growth in advertising. Net income came in at $0.02 per share compared with an expected $0.02 loss; it was down from $0.14 from the prior year because of higher taxes and costs related to the purchase of CBS. Popular TV shows enabled the company to achieve double-digit advertising sales growth. An impressive worldwide performance of Mission: Impossible 2, which has already grossed $529 million, helped as well. The company also realized a healthy increase in EBITDA (earnings before interest, taxes, depreciation, and amortization), a proxy for cash flow. On a pro-forma basis, which adjusts for the impact of the CBS acquisition, EBITDA grew 22% in the quarter to $1.4 billion.

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