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VOL. 36 | NO. 4 | Friday, January 27, 2012




Viacom 1Q earnings shredded by 'Rock Band'

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NEW YORK (AP) — Viacom posted a 65 percent drop in net income for the latest quarter as it took a charge related to the "Rock Band" series of video games.

Viacom Inc., the owner of Paramount Pictures, MTV and Comedy Central, earned $212 million, or 38 cents per share, in the October to December quarter. That's just over one-third of the $610 million, or $1 cents per share, it earned in the same period last year.

Excluding money Viacom may owe former shareholders of Harmonix, creator of "Rock Band," earnings were $1.06 per share in its fiscal first quarter, a penny above the average analyst estimate as polled by FactSet.

Viacom says its revenue rose 3 percent to $3.95 billion from $3.83 billion. Analysts expected $3.99 billion.

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