Viacom reported record adjusted diluted earnings per share
Quarterly revenues declined 5% to $3.79 billion. Excluding an unfavorable 3% impact of foreign exchange, revenues decreased 2%.
Media Networks revenues grew 5% to $2.79 billion, principally due to growth in affiliate fees and international advertising revenues, partially offset by declines in domestic advertising revenues.
Domestic and worldwide affiliate revenues increased 15% and 10%, respectively, driven by higher revenues related to the timing of programming made available under certain distribution agreements, as well as rate increases.
Domestic advertising revenues declined 7%, reflecting a decline in traditional television ratings. Worldwide advertising revenues decreased 1%, reflecting the domestic decline partially offset by a 45% increase in international advertising revenues, driven by growth in Europe, primarily by Channel 5.
Filmed Entertainment revenues declined 24% to $1.03 billion, driven by the mix of this quarter's releases compared to the prior year quarter, which included the strong performance of Transformers: Age of Extinction. Overall, theatrical revenues declined 20% to $447 million. Home entertainment revenues declined 54%.
Full-year revenues were $13.27 billion, a decline of 4% from the prior fiscal year. Excluding an unfavorable 2% impact of foreign exchange, revenues decreased 2%. Media Networks revenues rose 3% to $10.49 billion, reflecting a 5% increase in affiliate fees and a 1% gain in worldwide advertising revenues.
Filmed Entertainment revenues decreased 23%, principally due to lower revenues across the distribution windows reflecting the mix of films. Excluding an unfavorable 2% and 4% impact of foreign exchange, Media Networks revenues increased 5% and Filmed Entertainment revenues declined 19%, respectively. ■