Viacom Inc. (VIA.B) today declared encouraging results for the third quarter. Quarterly net income from continuing operation was $443 million or 73 cents per share, compared to $385 million or 62 cents per share in the prior-year quarter. However, third-quarter adjusted (excluding one-time discrete tax benefit) EPS was 61 cents significantly above the Zacks Consensus Estimate of 55 cents. This is mainly due to soaring increase in operating profit and effective cost management. Quarterly revenues of $3.32 billion was down 3% year over year but was in line with the Zacks Consensus Estimate.   Operating income was $784 million, up 14% year over year driven by the solid performance of the Filmed Entertainment segment. At the end of the reported quarter, Viacom had $249 million of cash & cash equivalent and $6,852 million of outstanding debt on its balance sheet compared to $792 million of cash & cash ...