Weak Advertising Market Sends Viacom Profit Tumbling 32%

Jul 27, 2009  •  Post A Comment

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

One Comment

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