Viacom Inc. post 80 percent jump in third-quarter profits

Viacom Inc. post 80 percent jump in third-quarter profits

Viacom Inc. has come out with their latest revenue report and the company has posted an 80 percent jump in third-quarter earnings.

The company owns well known brands including MTV, Comedy Central and Paramount Pictures and they gained from impressive earnings from the movie “Transformers” and the sale of a music publishing business.

Viacom posted earnings of $641.6 million, or 96 cents per share. This is an improvement from $356.8 million, or 50 cents per share in the same period last year.

They had sold off their Famous Music division in this quarter which helped in these improved figures.