Paramount Q1 2020 Earnings Report
Key Takeaways
ViacomCBS reported Q1 2020 earnings with a revenue of $6.669 billion and a diluted EPS of $0.82. The company took decisive action to fortify its balance sheet, protect its employees, and help communities in need amidst the COVID-19 pandemic. Domestic streaming and digital video revenue grew significantly, reinforcing demand for ViacomCBS content.
ViacomCBS delivered solid results in its first full quarter, including sequential improvement on key financial metrics and operating momentum.
The company took decisive action to fortify its balance sheet, protect its employees and help communities in need in the wake of the COVID-19 pandemic.
Domestic streaming and digital video revenue grew significantly, reinforcing demand for ViacomCBS content.
The company delivered strong revenue growth and saw record sign-ups and consumption across pay and free streaming services.
Paramount
Paramount
Paramount Revenue by Segment
Forward Guidance
ViacomCBS focused on reinforcing financial flexibility and business continuity, while supporting its employees and communities in response to COVID-19.
Positive Outlook
- ViacomCBS strengthened its balance sheet and liquidity with a $2.5 billion debt offering in April and implemented cost savings initiatives to mitigate revenue impacts.
- Leveraging alternative production models and its extensive library, the company ensured the continuity of its linear and streaming programming, including national and local news and late night.
- The company shifted its film releases to preserve the value of its strong slate.
- ViacomCBS quickly pivoted to remote working, with strict protocols for protecting employees, and committed $100 million to support impacted TV and film production personnel.
- The company launched an expansive PSA campaign, #AloneTogether, resulting in over 80,000 linear spots and more than half a billion video views on social.
Revenue & Expenses
Visualization of income flow from segment revenue to net income