Weak Advertising Market Sends Viacom Profit Tumbling 32% AP

Second-quarter profit at Viacom plummeted 32% as revenue fell amid a weak advertising market, slower video game sales and fewer movie releases, the Associated Press reports.

Viacom earned $277 million, or 46 cents a share, vs. $407 million, or 65 cents a share, in the same quarter last year. Domestic ad revenue dropped 6 percent and international advertising was down 8%, the AP says.

--Tom Gilbert