Viacom's Profit Up 33 Pct on 'Rockstar,' Cable Ads

The New-York based company said its media networks sales grew 16 percent while filmed entertainment sales grew 12 percent.

Net income was $270 million, or 42 cents per share, compared to $203 million, or 29 cents per share a year ago. Excluding charges, it earned 44 cents per share, beating estimates of 41 cents per share, according to a poll of analysts by Thomson Reuters.

Revenue grew 15 percent to $3.12 billion, from $2.72 million a year ago, above estimates of $2.97 billion.

Shares of Viacom fell 8 cents, or 0.2 percent to $39.84 in mid-day trading on the New York Stock Exchange.

MEDIA NETWORKS

The company's Media networks revenues grew 16 percent to $2.02 billion from $1.73 billion a year ago, driven primarily by music video game "Rock Band." Advertising on its cable networks also grew.

Sales of "Rock Band,"which launched strongly during the holiday shopping season, helped the network division's ancillary revenues rise 72 percent. It has already sold 3 million copies and continues to rise, the company said.

Worldwide advertising revenue in the networks division was driven by its networks including Nickelodeon, Comedy Central and TV land.

FILMED ENTERTAINMENT