Nov 16, 2018
Accelerates transformation behind strengthened core business and growth initiatives.
Viacom released its fourth quarter and full-year 2018 financial results today, demonstrating the impact of turning around the core business and articulating a blueprint for the company’s continued transformation into a pre-eminent global supplier of multiplatform content for both in-house and third-party platforms.
“Our strong performance in the fourth quarter capped off a pivotal year for Viacom,” said Viacom President and CEO Bob Bakish. “We successfully turned around our core business, with dramatic improvements across our networks, at Paramount and in distribution. We also took important steps to evolve Viacom for the future – investing in our portfolio of advanced marketing solutions, digital and experiential offerings and global studio production business. As we head into 2019, we are excited about the company’s evolution and expect to return to topline growth.”
Strong financial performance underscored the company’s progress, with year-over-year quarterly growth in consolidated revenue, adjusted diluted EPS and adjusted operating income. The full fiscal year ended with a return to full-year growth in consolidated operating income for the first time since 2014, record revenue and profitability for Viacom’s international networks, and another $1 billion reduction in the company’s debt.
With the content-driven core business strengthened and growth initiatives accelerating to scale, Viacom is set to return to full-year growth in fiscal 2019. Here is a closer look at five areas of strength that are driving the company’s transformation: