Viacom posts earnings of $1.47 a share vs $1.47 a share expected

So far this year, Viacom shares have lagged behind media competitors, losing about 30 percent of their value. Viacom agreed to sell its Italian MTV free-to-air channel to European pay TV company Sky for an undisclosed amount in July. Viacom had been facing questions over who might replace 91- year-old Viacom Executive Chairman Sumner Redstone.