Viacom posts 4 pct increase in 2nd-qtr net income on strong results at TV networks division

The Associated Press

FILE - This Jan. 19, 2010 file photo shows the Viacom logo above the entrance to Viacom's headquarters, in New York. Viacom reports quarterly earnings on Thursday, May 1, 2014. (AP Photo/Mark Lennihan, File)

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NEW YORK (AP) — Viacom says its second-quarter profit rose 4 percent, boosted by its TV networks, and beat Wall Street predictions.

The New York company, which owns Nickelodeon, MTV, Comedy Central and Paramount Pictures, earned $502 million, or $1.13 per share, for the quarter ended March 31. That was up from $478 million, or 96 cents per share, in the same quarter the year before.

Revenue edged up 1 percent to $3.17 billion from $3.14 billion.

Analysts polled by FactSet expected a profit of $1.05 per share on $3.19 billion in revenue.

Media networks revenue rose 6 percent to $2.38 billion, while filmed entertainment revenue fell 12 percent to $831 million.

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