Nickelodeon Ad Sales a Drag on Viacom Earnings

Media giant ramps up development in bid to halt ratings skid

This morning's look back on the last quarter was not much fun for Viacom. Revenue was down 16 percent to $3.31 billion, earnings declined to $461 million, and per-share earnings came in at 91 cents per diluted share.

The network had the usual excuses, including that this year was a "difficult comparison" to the year previous, down 42 percent in revenue from 2012, when Mission Impossible—Ghost Protocol and Puss in Boots were its big Christmastime releases (of course, it had a Tom Cruise movie and a DreamWorks cartoon this year, too—they just didn't do as much business).

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