Businessweek Archives

Smooth Sailing For Viacom


In Business This Week

SMOOTH SAILING FOR VIACOM

HAS VIACOM'S SHIP FINALLY come in? On Apr. 29, it posted gains in first-quarter cash flow, revenue, and pretax earnings, surpassing Wall Street's expectations. A big boost came from Titanic, a joint production of Viacom's Paramount movie studio and Twentieth Century Fox. Even better, the earnings report indicated a turnaround at Blockbuster. In the quarter, the movie rental unit's same-store revenue was up 10%, its cash flow, up 6%, and total sales rose by 13%, to $930 million. The chain is benefiting from new distribution deals with studios that reduce the cost of videos and stock Blockbuster stores with more copies of current releases.EDITED BY PAT WECHSLER


China's Killer Profits
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus