CBS qr3q 03

Viacom reported record third quarter 2003 results, with revenues increasing 5% to $6.60 billion and operating income rising 7% to $1.38 billion. Advertising revenues grew 8% to $2.88 billion. Earnings per share increased to $0.40 from $0.36 in the prior year. The company expects continued growth in 2004, forecasting revenue growth of 5-7% and earnings per share growth of 13-15%. Segment operating income rose significantly across Cable Networks, Television, and Video. The company reiterated 2003 guidance and sees strong growth continuing into 2004.