Viacom misses Q2 revenue mark thanks in large part to lackluster box office carryover


Fortune

This post is in partnership with TheWrap. The article below was originally published at thewrap.com.

By Tony Maglio, TheWrap

Viacom released its second quarter 2015 financials on Thursday before the U.S. stock markets opened, reporting adjusted diluted earnings per share of $1.16 on $3.078 billion in revenue.

Not adjusting for a hefty, previously announced restructuring charge, the company lost 13 cents per share, as profit fell 111%.

Wall Street had forecast Class B (non-voting) EPS of $1.07 on $3.26 billion in revenue, according to numbers compiled by Yahoo Finance. Zacks concurred with the per-share earnings estimate, which the media company clearly topped despite whiffing on sales.

Viacom’s revenue slipped 3% from the comparable quarter last year. Filmed Entertainment sales fell overall by 21%, driven by declines in television license fees and home entertainment revenues that were impacted by the number and mix of available titles. Weaker box office carryover…

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