Viacom: Film Growth & Increased Advertising Help Media Giant Beat Wall Street Estimates For Q3 As CBS Merger Talk Continues

EPS was $1.20, beating the consensus estimate from analysts of $1.07, while revenue of $3.36B beat the estimate by $30M of $3.33B.

Elsewhere, domestic advertising grew for the first time in 20 quarters, increasing by 6% over the quarter.In terms of cable networks, Comedy Central recorded its ninth straight quarter of share growth, while Paramount Network grew its share for the third straight quarter. CBS, meanwhile, will report its own quarterly earnings after the close of trading on Wall Street on Thursday. Speculation had mounted about a merger announcement being timed to the companies’ joint earnings day, but sources havethat’s not the likely plan. Talks, while more constructive than the last two formal rounds, are continuing as parties work through exchange-ratio perspectives and finalize the management structure.

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CBS, Viacom merger deal won't be announced ThursdayCBS and Viacom likely won't reach a merger agreement in time for CBS's earnings release on Thursday. The companies originally planned to have a deal by August 8.
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