Viacom’s second quarter profit down 7%

New York: Viacom Inc., the owner of Paramount Pictures, MTV and Nickelodeon, on Friday said its net income fell 7 per cent in the latest quarter as advertising revenue declined more than expected and its movie releases failed to measure up to last year’s. Viacom earned $534 million (Dh1.96 billion), or $1.01 per share, in the April to June quarter. That compares with $574 million, or 97 cents per share, in the same period last year.