Updated with U.S. stock markets now open: Shares of ViacomCBS stock (Viac) are trading down a steep 18% on Thursday morning. That’s twice what the decline was pre-market.
See the sinkage below. We chose a five-day window to best demonstrate the dramatic drop.
Google/Yahoo Finance
This snapshot comes following the ViacomCBS fourth-quarter and full-year earnings call, which itself followed the company reporting its financial results for Q4 and 2019 in totality. Guess how those went? Yeah, not good.
Also Read: ViacomCBS Offers 2020 Subscriber Projections for Pluto TV, CBS All Access and Showtime
Premarket, ViacomCBS stock had dropped 9% after the recently recombined company reported a Q4 loss.
The publicly traded corporation, lead by Bob Bakish (pictured above), also pretty badly missed Wall Street’s revenue and adjusted earnings estimates for the quarter. ViacomCBS blamed cord-cutting, less political advertising and a soft box office for falling short.
Wall Street forecast earnings...
See the sinkage below. We chose a five-day window to best demonstrate the dramatic drop.
Google/Yahoo Finance
This snapshot comes following the ViacomCBS fourth-quarter and full-year earnings call, which itself followed the company reporting its financial results for Q4 and 2019 in totality. Guess how those went? Yeah, not good.
Also Read: ViacomCBS Offers 2020 Subscriber Projections for Pluto TV, CBS All Access and Showtime
Premarket, ViacomCBS stock had dropped 9% after the recently recombined company reported a Q4 loss.
The publicly traded corporation, lead by Bob Bakish (pictured above), also pretty badly missed Wall Street’s revenue and adjusted earnings estimates for the quarter. ViacomCBS blamed cord-cutting, less political advertising and a soft box office for falling short.
Wall Street forecast earnings...
- 2/20/2020
- by Tony Maglio
- The Wrap
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