Viacom fiscal second quarter profits soar past analyst expectations

Cable TV programming force Viacom (NYSE: VIA), legally embroiled with Time Warner Cable (NYSE: TWC) over the MSO's use of its content on an iPad application, has one-upped the cable company when it comes to earnings.

While Time Warner Cable posted a 52 percent increase in the first quarter, Viacom's fiscal second quarter earnings were up 54 percent on revenue that jumped 20 percent to $3.27 billion. The numbers outpaced analysts who expected the company to earn about $2.98 billion.

Net revenue for the owner of such cable content as MTV's strangely popular Jersey Shore, was up 53 percent to $376 million. Viacom is the only programmer--so far--to take its case to court after demanding that Time Warner Cable remove its content from its popular iPad application and rattling its sabers against Cablevision Systems (NYSE: CVC).

For more:
- Forbes.com has this story

Related articles:
Viacom assails Cablevision iPad app, claims it violates agreements
Time Warner Cable, Viacom head to court over iPad
Money men: Viacom's Dauman gets $84.5M in 2010; Google's Schmidt gets $100M in equity

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