Viacom Blames Soft ‘Ninja Turtles,’ Management Drama for Lowered Earnings Forecast

Viacom is being proactive in tempering earnings expectations for its current fiscal quarter.

The media company says the soft box office performance of “Teenage Mutant Ninja Turtles: Out of the Shadows” and the delay in completing a significant SVOD agreement are to blame.

“Viacom expects to report adjusted diluted earnings per share within the range of approximately $1.00 to $1.05 for the third quarter of 2016,” the company said on Friday.

More to come …

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