ViacomCBS (VIAC) Misses Q4 EPS, Revs; Increasing Annualized Run-Rate Cost Synergy Target to $750M
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ViacomCBS Reports Q4 and Full Year 2019 Results; Provides Strategic Update
February 20, 2020 7:00 AM ESTFull Year Revenue Increased 2%, Driven by Growth in Advertising, Affiliate and Content Licensing; Operating Income, Net Earnings and Diluted EPS Impacted by Q4 Transitional Q4 Included Merger-Related Expenses, As Well As Operating Items Expected to be Mitigated Through Benefits of the Combined Company Moving Quickly on Integration: Consolidated Teams in Place; Increasing Annualized Run-Rate Cost Synergy Target to $750M from $500M Go-Forward Strategy Will Unlock Incremental Value from Content, Revenue Lines and Streaming Expanded Portfolio of Platforms Increases Content ROI, Monetization Opportunities Domestic Streaming and... More
