ViacomCBS Rises 3.4% After Crushing Second-Quarter EPS Estimates

ViacomCBS (NASDAQ: VIAC) is coping relatively well with the economic fallout from the coronavirus pandemic, as indicated in the media company's second-quarter 2020 earnings released on Thursday.

Both revenue and non-GAAP (adjusted) net profit fell compared to Q2 2019. The former dipped by 12% to land at just under $6.28 billion, while the latter fell more steeply (by 16%) to hit $769 million, or $1.25 per share.

Still, the two headline numbers easily beat average analyst estimates. For revenue, the expectation was for $6.19 billion, while per-share adjusted net profit was modeled at $0.91.

Continue reading

Source Fool.com