CBS qr3q 04

Viacom reported higher third quarter 2004 results, with net earnings increasing 12% to $723 million. The company also announced a $8 billion stock repurchase program and a 16.7% increase to its quarterly dividend. Key results included revenue growth of 4% to $5.5 billion and operating income growth of 5% to $1.34 billion, led by increases at Cable Networks, Television, and Outdoor segments. Viacom expects full-year 2004 revenue growth of 8%, operating income growth of 14%, and earnings per share growth of 16%.