CBS qr1q 02

Viacom reported first quarter 2002 results, with revenues of $5.67 billion and EBITDA of $1.09 billion, led by growth in its Cable Networks and Video segments. Free cash flow increased 9% to $380 million. The company expects higher advertising revenues and double-digit growth in EBITDA and EPS for full year 2002 compared to 2001. Cable Networks EBITDA rose 12% on higher affiliate fees and DBS revenues, while Video EBITDA increased 9% due to higher margin DVD rentals.