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Viacom, Infinity Revenues Rise in Q2

Viacom, Infinity Revenues Rise in Q2

Viacom revenues rose to $5.85 billion and operating income increased to $1.18 billion in the second quarter of the year compared with revenues of $5.72 billion and operating income of $586 million in the same quarter last year, led by higher results in its cable networks, TV and video segments.
Infinity (radio and outdoor divisions) reported Q2 total revenues of $989.2 million, compared to $985.4 million for the second quarter of last year. Operating income of $350 million decreased 8% from $379 million. Infinity’s revenues reflect a 3% increase in radio revenues due to increases in the New York market, which benefited from the addition of the Yankees season broadcast on WCBS(AM) and higher revenues from distribution agreements from Westwood One.