ViacomCBS (VIAC) Misses Q4 EPS, Revs; Increasing Annualized Run-Rate Cost Synergy Target to $750M

ViacomCBS (NASDAQ: VIAC) reported Q4 EPS of $0.97, $0.47 worse than the analyst estimate of $1.44. Revenue for the quarter came in at $6.87 billion versus the consensus estimate of $7.36 billion.

Increasing Annualized Run-Rate Cost Synergy Target to $750M from $500M

“In less than three months since completing our merger, we have made significant progress integrating and transforming ViacomCBS. We see incredible opportunity to realize the full power of our position as one of the largest content producers and providers in the world. This is an exciting and valuable place to be at a time when demand for content has never been higher, and we will use our strength across genres, formats, demos and geographies to serve the largest addressable audience, on our own platforms and others.

In 2020, our priorities are maximizing the power of our content, unlocking more value from our biggest revenue lines and accelerating our momentum in streaming. With this as a backdrop, we’ve set clear targets for the year and are providing increased transparency around our business to demonstrate ViacomCBS’ ability to create shareholder value today, as we continue evolving and growing our business for tomorrow.”

For earnings history and earnings-related data on ViacomCBS (VIAC) click here.

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