Viacom Inc. VIAB announced second-quarter fiscal 2016 results wherein the bottom line missed the Zacks Consensus Estimate while the top line met the same.Adjusted net income from continuing operations in the reported quarter was $303 million or 76 cents per share compared with $467 million or $1.16 per share in the prior-year quarter. The adjusted earnings figure also missed the Zacks Consensus Estimate of 79 cents.Meanwhile, total revenue in the quarter came in at $3,001 million, down 3% year over year but in line with the Zacks Consensus Estimate. Lack of hit movie releases coupled with a strong U.S. dollar affected the top-line performance. Meanwhile, quarterly adjusted operating income came in at $586 million, down 29% year over year.At the end of the second quarter, Viacom had $480 million of cash & cash equivalents and $11,496 million of outstanding debt on its balance sheet compared with $506 million and $12,267 million, respectively, at the end of fiscal 2015.Segmental PerformanceMedia NetworksQuarterly revenues totaled $2,381 million, down of 3% year over year. Quarterly operating profits came in at $805 million, down 11% year over year. Both Affiliated fee and ancillary revenues fell 1% and 4%, respectively, on an annualized basis. Also, on an annualized basis, worldwide affiliate revenues improved 4% while domestic affiliate revenues dropped 2% year over year. On the other hand, on a year-over-year basis, both domestic and worldwide advertising revenues deteriorated 5% and 1%, respectively.Filmed EntertainmentAt this segment, quarterly revenues fell 1% year over year to $655 million. Global Theatrical revenues increased 6% year over year while home entertainment business revenues fell 21% on an annualized basis. However, TV license fees improved 17% year over year. Quarterly operating loss stood at $136 million, against an operating profit of $1 million recorded in the second quarter of 2015. Also, ancillary revenues declined 17% year over year.Zacks Rank & Stocks to ConsiderCurrently, Viacom carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same industry are The Madison Square Garden Company MSG, AMC Networks Inc. AMCX and World Wrestling Entertainment Inc. WWE. All three carry a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WORLD WRESTLING (WWE): Free Stock Analysis Report MADISON SQUAR-A (MSG): Free Stock Analysis Report AMC NETWORKS- A (AMCX): Free Stock Analysis Report VIACOM INC-B (VIAB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research