General News

Wall Street embracing Viacom again

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Jul 27, 2001 | 10:26am EDT

Shares in Viacom on Thursday jumped $3.74 to $49.99, a rise of 8 percent, due largely to strong sales at its CBS-TV division and the box-office performance of Lara Croft: Tomb Raider at its Paramount film division. In early trading Friday, the company's shares continued their ascent, selling at $51.61, after Wall Street analysts forecast accelerated growth for the year. The company posted second-quarter profits of $16.7 million, up from a loss of $495.6 million during the same quarter a year ago.

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