ViacomCBS: 4Q Earnings Snapshot

Associated Press
Updated ·1 min read

NEW YORK (AP) _ ViacomCBS Inc. (VIAC) on Wednesday reported fourth-quarter net income of $810 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the New York-based company said it had net income of $1.31. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to $1.04 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The company posted revenue of $6.87 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $6.95 billion.

For the year, the company reported profit of $2.42 billion, or $3.92 per share. Revenue was reported as $25.29 billion.

ViacomCBS shares have climbed 76% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $65.60, more than doubling in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VIAC at https://www.zacks.com/ap/VIAC