Viacom reports 24% rise in net earnings but top line falls 3% (VIA)

11/3/2009-Viacom (NYSE:VIA) reported Q3 EPS of 69 cents, ex-items, topping consensus estimates of 57 cents.

Revenues in the quarter fell 3% year-over-year to $3.32 billion, but came in ahead of consensus estimates of $3.30 billion.

Sumner M. Redstone, Executive Chairman of Viacom, said,

"As we enter a period of economic recovery, Viacom is already beginning to reap the benefits of a highly focused and well executed strategy. With our strong brands and growing global footprint, we are well positioned to capitalize on future opportunities."

Write to Chip Brian at cbrian@tradethetrend.com

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