NEW YORK (AP) — Viacom Inc., the owner of the MTV channel and Paramount Pictures movie studio, said Thursday its fiscal first-quarter profit dropped 12 percent due mainly to lower home DVD sales compared with a slew of strong releases in 2009.

The media and entertainment company said its net income fell to $610 million, or $1 per share, for the three months ended Dec. 31 from $694 million, or $1.14 per share, a year ago. Adjusted earnings, which exclude earnings from discontinued operations, were $1.02 per share.

Revenue fell 5 percent to $3.83 billion from $4.02 billion, a drop Viacom attributed mainly to lower home entertainment sales.

Analysts polled by Factset had expected earnings of 98 cents a share and revenue of $4.04 billion.

Viacom said advertising revenue grew during the quarter. Its media networks segment — its most profitable — generated $2.38 billion in revenues, a 6 percent increase from a year earlier.

But home entertainment sales, that is, DVDs, fell from year-ago results boosted by big releases such as "Transformers: Revenge of the Fallen" and "Star Trek."

Paramount Pictures saw theatrical revenue grow sharply, to $416 million thanks to seven films, including "True Grit" and "The Fighter." In the year-ago quarter, Paramount had just four releases and pulled in $93 million in theatrical revenue.

"Viacom is off to a solid start to what is shaping up to be a very strong year," said Chairman Sumner Redstone in a statement.