ViacomCBS Sales, Profit Dip On Lower Ad Revenue But Numbers Top Expectations, Stock Pops
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deadline.comBy Jill Goldsmith ViacomCBS reported dips in revenue and profit but its numbers beat expectations sending the stock up more than 10% in early trade.
The company said revenue dipped 6% to $6.7 billion. Diluted EPS from continuing operations fell to $0.82 a share from $3.15. “ViacomCBS delivered solid results in our first full quarter, including sequential improvement on key financial metrics, as well as clear operating momentum.
In the wake of the COVID-19 pandemic, we also took decisive action to fortify our balance sheet, protect our employees and help communities in need.
And through new creative strategies and production models, we continue to deliver must-watch content that big audiences love,” said CEO Bob Bakish. “Importantly, we
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