/// ‘Jersey Shore’ Helps Lift Viacom to Double-Digit Growth
Viacom Chairman Sumner Redstone can thank Snooki for a strong quarter. On Friday, the morning after the season premiere of MTV’s Jersey Shore , Viacom reported a 37 percent earnings increase during its third quarter. The company’s cable networks—including MTV, VH1, and Comedy Central—led the charge by bringing in $2.4 billion in revenue, an increase of 16 percent year over year. And Jersey Shore contributed to a 14 percent increase in ad revenues worldwide and 12 percent in the U.S. However, Philippe Dauman, Viacom's president and CEO, was quick to point out to analysts on a conference call that “even without Jersey Shore on the air, MTV’s ratings increased year over year” with the network boasting four out of the top five rated non-sporting cable telecasts this quarter. Viacom’s filmed entertainment division, which includes Paramount Pictures, also reported strong quarterly returns with $1.4 billion in revenue, up 13 percent compared to the same period last year. The company attributed this boost to the blockbuster Transformers: Dark of the Moon , which has already earned over $1 billion worldwide.
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