Hasta La Creative!

Viacom, owner of cable networks Nickelodeon and MTV as well as the Paramount film studio, reported quarterly profit that exceeded analysts’ estimates on improved advertising sales.

Net income fell 18% to $478 million, or 96 cents a share, in the quarter ended March 31, from $585 million, or $1.07, a year earlier, the company said today in a statement. Excluding some items, profit totaled 96 cents a share. Analysts had projected 95 cents, the average of 30 estimates compiled by Bloomberg.

“Ratings are up at several networks, and advertising revenues have returned to year-over-year growth, up 2%,” Chief Executive Officer Philippe Dauman said in the statement.

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