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Viacom Reports Lower Sales, Profits Amid Fewer Films

The Viacom logo is displayed outside the headquarters in New York.

Filmed entertainment revenue dropped 44% as theatrical revenue nearly halved. Last year, Viacom’s flick “Transformers: Age of Extinction” was released during the comparable quarter, while this year’s big summer movies, including the latest Terminator installment, were released a quarter later, the company said.

Meanwhile, Viacom’s media networks segment—its largest—reported revenue that was essentially flat from a year earlier. Excluding the impact of currency...