CBS qr3q 02

Viacom reported record third quarter 2002 results with revenues increasing 10% to $6.3 billion and operating income increasing to $1.3 billion compared to $194 million in the third quarter of 2001. Every business segment saw higher revenues and operating income led by strong advertising growth of 14% overall. Net earnings were $640 million or $.36 per share compared to a net loss of $.11 per share in the third quarter of 2001. Excluding certain one-time items from 2001, operating income grew 18% and earnings per share grew 17% reflecting strong performance across all of Viacom's business segments.