8/5, 1:06 PM (Source: TeleTrader)
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ViacomCBS's Q2 revenue up by 7.9% to $6.56 billion

ViacomCBS Inc. revealed on Thursday its revenue in the second quarter of 2021 rose by 7.9% on an annual level to come in at $6.56 billion, beating estimates. Its net earnings from continuing operations stood at $995 million, growing by 102% year-on-year, while its diluted earnings per share (EPS) went up by 105% to $1.5 per share. On the other hand, the company's operating income declined by 2% to $1.23 billion.

"In a quarter of strong business performance, including growth in advertising and affiliate, streaming was a standout. [...] This growth was driven by the power of the service’s differentiated content strategy and expanding content slate," the company's President and Chief Executive Officer (CEO) Bob Bakish remarked.

Following the release of the report, ViacomCBS's shares lost 0.72% in the premarket trading session.

Breaking the News / JR