ViacomCBS outdid Wall Street’s expectations for the second quarter of 2021, though it was an awfully close one in earnings.
Wall Street forecast earnings per share (EPS) of 96 cents on $6.48 billion in revenue, according to a consensus estimate of media analysts compiled by Yahoo Finance. ViacomCBS reported adjusted diluted EPS of 97 cents on $6.564 billion in revenue.
While the revenue figure was up 8%, EPS decreased 20% year over year on soaring expenses for Paramount+. “South Park” licensing from March to June of last year also helped that quarter’s earnings number.
The return of sports in the form of the final March Madness rounds and professional golf helped out a bunch vs.