Viacom reports surprise revenue gain

Posted online August 4, 2016 | 11:22 am

Viacom, which is at the center of a legal battle between controlling shareholder Sumner Redstone and CEO Philippe Dauman, reported a surprise increase in quarterly revenue.

Revenue moved up 1.6 percent to $3.1 billion from $3.06 billion. Analysts expected $3.01 billion.

Net income, however, fell to $432 million from $591 million a year earlier.

Read more from Reuters.

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