Rising ad spending on its cable networks, like
MTV and Comedy Central, propelled media conglomerate Viacom to a
37 percent rise in third quarter profits, the company said Friday.
The company, which also owns Paramount Studios, said it earned $574 million in the quarter, up from $420 million a year ago.
Revenue climbed 15 percent to $3.77 billion. The cable networks contributed $2.39 billion in revenues, as U.S. advertising sales grew by 12 percent.
Viacom also was boosted by strong growth in digital distribution deals with companies such as Hulu and Netflix, which stream content to viewers online. The company said such revenues grew by $156 million, or 19 percent compared to a year earlier.
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