Viacom Inc., the media conglomerate that owns MTV, CBS and the Paramount movie studio, swung to a profit of $708.5 million in the third quarter, bouncing back from a loss in the year-ago period when results were hit by a charge for the Blockbuster Inc. video rental business.
Viacom said Tuesday its profit in the three months ended Sept. 30 was equivalent to 45 cents per share, in line with the analysts’ estimates. In the same period a year ago, Viacom posted a loss of $487.6 million (28 cents per share). Revenues rose 10 percent to $5.94 billion.
