Viacom’s full year 2006 revenues of $11.47 billion rose 19% from $9.61 billion in 2005, reflecting a 7% increase in media networks revenues to $7.24 billion.
Fourth Quarter 2006 revenues of $3.59 billion grew 32% from $2.72 billion in 2005, whilst worldwide advertising revenues rose 6% to $1.26 billion from $1.19 billion in 2005.
Sumner M. Redstone, executive chairman of Viacom, said: “Viacom delivered solid results for 2006, guided by a new management team under the leadership of Philippe Dauman, who has moved quickly to put the Company back on a steady path of success. I have great confidence that we will continue to build on the momentum of the last several months both in expanding our digital horizons and continuing to grow in traditional markets.”
Philippe P. Dauman, president and chief executive officer of Viacom, said: “We are making significant progress financially and operationally to ensure that we thrive in all distribution channels, including the evolving digital marketplace. Financially, our 2006 performance was strong, with double digit growth in revenues and operating income and 16% growth in adjusted net earnings per share.
“During the first quarter of this year, we took decisive steps to deploy our capital in more productive ways, including restructuring our operations here and abroad. At the same time, we continued to introduce popular new programming on our linear channels, to expand our digital operations organically and to reach innovative agreements with new digital partners. Additionally, we continue to expand on our position as a leading global provider of digital wireless video, and to innovate with new online sites and experiences.”
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