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Thursday, 11 May 2006, 20:52 GMT 21:52 UK

Dreamworks boosts Viacom results

Still from Dreamworks movie Munich Media giant Viacom has beaten market expectations for its first quarter results, helped by a strong performance by its Dreamworks film studio.

Revenues at Viacom rose 12% to $2.4bn (£1.3bn) in the three months to 31 March from the same period last year.

Dreamworks, which Viacom bought in December, contributed 8% to the rise.

Profits at Viacom, which also owns MTV and Paramount Pictures, dipped 9% to $317m or 43 cents per share, above Wall Street's predicted 40 cents.

Viacom said the drop was mainly caused by $57m in extra interest payments. The firm paid $1.6bn for Dreamworks.

Revenues were also up at Viacom's TV operations.



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Related to this story:
Box office successes boost Viacom (01 Nov 05 |  Business )
Viacom agrees to split business (15 Jun 05 |  Business )
Viacom may split into two firms (17 Mar 05 |  Business )

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