NEW YORK — Viacom Inc.'s earnings fell 36 percent in the first quarter, weighed down by higher marketing expenses for movies and a restructuring charge at its MTV group, the media company reported Thursday, but the results still beat analysts' estimates.

Viacom, which is controlled by media mogul Sumner Redstone and split up from CBS Corp. a year ago, earned $202.9 million, or 29 cents a share, in the three months ended March 31, down from $317.2 million, or 43 cents a share, a year earlier.

In addition to MTV, Viacom also owns Paramount Pictures, DreamWorks, VH1 and BET.

Excluding the after-tax cost of $35 million for the charges at MTV, the per-share earnings were equivalent to 34 cents, ahead of the 32 cents that analysts were expecting, according to Thomson Financial. Revenues grew 16 percent to $2.75 billion.

TRADE DEFICIT HITS HIGHEST LEVEL IN 6 MONTHS

WASHINGTON — The trade deficit shot up in March to the highest level in six months, driven by a big jump in imported oil. The politically sensitive deficit with China shrank as U.S. exports to that country hit an all-time high.

The Commerce Department reported Thursday that the gap between what the United States imports and what it sells to the rest of the world rose to $63.9 billion in March, up 10.4 percent from the February level.

That was a bigger-than-expected deterioration in the trade deficit from the $60 billion deficit that analysts were forecasting. It reflected a big 17.6 percent jump in oil imports, which climbed to $24.6 billion, the highest level in six months.

CHIEF EXECUTIVE OF JETBLUE STEPS DOWN

NEW YORK — David Neeleman stepped down as chief executive of JetBlue Airways Corp. on Thursday, giving up operational control of the airline he built from a scrappy low-fare upstart into a perk-heavy carrier with nearly 600 daily flights.

Neeleman is being replaced as CEO by Dave Barger, who has been president, but will stay on as chairman.

The move comes less than three months after two winter storms forced JetBlue to cancel nearly 1,700 flights. Neeleman acknowledged Thursday that it was time for him to step aside and let the operating experts take over.

Neeleman had been CEO since 1998. He said he will focus on strategic initiatives by staying on as chairman.

Still, its quite a change for a business whose brand, some analysts say, became intertwined with Neeleman's personality.

PLEA AGREEMENT IN OXYCONTIN CASE

ROANOKE, Va. — The maker of the powerful painkiller OxyContin and three of its current and former executives pleaded guilty Thursday to misleading the public about the drug's risk of addiction, a federal prosecutor and the company said.

Purdue Pharma LP, its president, top lawyer and former chief medical officer will pay $634.5 million in fines for claiming the drug was less addictive and less subject to abuse than other pain medications, U.S. Attorney John Brownlee said.

The plea agreement settled a national case and came two days after the Stamford, Conn.-based company agreed to pay $19.5 million to 26 states and the District of Columbia to settle complaints that it encouraged physicians to overprescribe OxyContin.

Privately held Purdue learned from focus groups with physicians in 1995 that doctors were worried about the abuse potential of OxyContin. The company then gave false information to its sales representatives that the drug had less potential for addiction and abuse than other painkillers, the U.S. attorney said.

FEDERAL REVENUE COLLECTIONS HIT NEW HIGH IN APRIL

WASHINGTON — Federal revenue collections hit an all-time high in April, contributing to a further improvement in the budget deficit for the year.

Releasing its monthly budget report, the Treasury Department said Thursday that through the first seven months of this budget year, the deficit totals $80.8 billion, significantly below the $184.1 billion imbalance run up during the first seven months of the 2006 budget year.

So far this year, tax revenues total $1.505 trillion, an increase of 11.2 percent over the same period last year. That figure includes $383.6 billion collected in April, the largest monthly tax collection on record.

Tax collections swell in April every year as individuals file their tax returns by the deadline.

HERSHEY'S LOWERS EARNINGS GROWTH ESTIMATE

HARRISBURG, Pa. — Hershey, the nation's largest candy maker, said Thursday it will earn less in 2007 than it had originally forecast, a day after disclosing plans to close its last two plants in Canada and cut jobs from another plant in Pennsylvania.

Its shares dropped more than 3 percent in morning trading.

The Hershey Co. blamed a sluggish domestic business and higher dairy costs for lowering its earnings growth estimate for this year to 4 percent to 6 percent, down from the 7 percent to 9 percent range it forecast last month. It maintained its forecast of sales growth in the 3 percent to 4 percent range.

The maker of Reese's, Hershey's Kisses and Ice Breakers gum has pledged to put more muscle into advertising and marketing to invigorate sales after it stumbled in late 2006.

PROFIT NEARLY TRIPLES FOR SARA LEE

DOWNERS GROVE, Ill. — Food and household products maker Sara Lee Corp. said Thursday its third-quarter profit nearly tripled on revenue growth in its international beverage, bakery, household and body care segments.

The company, which makes Jimmy Dean sausage and frozen cheesecakes, said net income rose to $116 million, or 16 cents per share, from $42 million, or 6 cents per share, a year ago. Income from continuing operations totaled 15 cents in the latest period, up from 10 cents last year.

Sales from continuing operations grew 9 percent to $3.01 billion from $2.75 billion in the prior-year quarter. International beverage sales climbed 17.5 percent, household and body care sales rose 14 percent and international bakery sales increased 11 percent.

EUROPEAN CENTRAL BANK HOLDS INTEREST RATE STEADY

DUBLIN, Ireland — With growth strong but inflation a concern, the European Central Bank held its key interest rate steady Thursday and set the stage for another increase, while the Bank of England raised rates to their highest level in six years.

ECB President Jean-Claude Trichet said "strong vigilance" was warranted to defend the current cost of living in the euro zone — a phrase he has deployed before the ECB's past seven quarter-point hikes since December 2005.