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ViacomCBS (VIAC) Tops Q2 EPS by 34c, Revenues Beat

August 6, 2020 7:09 AM EDT
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ViacomCBS (NASDAQ: VIAC) reported Q2 EPS of $1.25, $0.34 better than the analyst estimate of $0.91. Revenue for the quarter came in at $6.28 billion versus the consensus estimate of $6.19 billion.

  • Achieved Second Consecutive Quarter of Sequential Improvement in Operating Income, Adjusted OIBDA, Operating Cash Flow and Free Cash Flow, Demonstrating Financial Momentum and Commitment to Shareholder Value
  • Executed Significant Distribution Deals, Highlighting Progress in Unlocking Value-Creation Opportunities Across Combined Asset Base
  • Delivered Robust Growth in Streaming, with Record Revenue, Subscribers, MAUs and Consumption Across Free and Pay Services, Accelerating Adoption of Pluto TV Internationally and Significant Progress in Transforming CBS All Access into a Diversified Super Service
  • Increased Target for Annualized Merger-Related Cost Synergies, while Simultaneously Managing Costs in Response to COVID-19

Statement from Bob Bakish, President & CEO

“ViacomCBS delivered another solid quarter, with clear operational momentum and sequential improvement in key earnings and cash flow metrics. Despite the impact of COVID-19 on revenue in the quarter, we’re successfully managing through the effects of the pandemic, reaffirming the strength of our combined operations. Our results underscored our strong progress delivering on our value-creation initiatives, including integration cost synergies, expanded and new distribution agreements, as well as the rapid acceleration of our streaming business, where we achieved record users and revenue in free and pay while building toward the relaunch of our diversified super service.”

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



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