NASDAQ$PSKY
Paramount Skydance Corp · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
ViacomCBS reported a solid quarter with operational momentum despite COVID-19 impact.
ViacomCBS's Q2 2020 earnings showed resilience amidst the COVID-19 pandemic, with sequential improvement in key earnings and cash flow metrics. The company successfully managed the pandemic's effects and progressed on value-creation initiatives, including cost synergies, distribution agreements, and streaming business acceleration.
- Achieved second consecutive quarter of sequential improvement in operating income, adjusted OIBDA, operating cash flow, and free cash flow.
- Executed significant distribution deals, unlocking value-creation opportunities across the combined asset base.
- Delivered robust growth in streaming with record revenue, subscribers, MAUs, and consumption across free and pay services.
- Increased target for annualized merger-related cost synergies while managing costs in response to COVID-19.
Headline financials
Revenue & EPS history
Paramount · Revenue · Quarterly
$6.28B
Revenue by segment
Paramount · $2.93B total across 2 segments · Q2 2020
- TV Media$2.29B—77.9%
- Filmed Entertainment$647M—22.1%
Forward guidance
ViacomCBS is on track for super service relaunch. In July, ViacomCBS unveiled the first major step in transforming CBS All Access into a rebranded super service and remains on track to relaunch this differentiated streaming product in early 2021.
Tailwinds
- ViacomCBS signed a comprehensive, multiplatform partnership with Verizon, spanning pay TV, connected television and mobile.
- The company announced a new deal with YouTube TV, which renewed CBS and Showtime early and brought Viacom’s cable networks to the service.
- ViacomCBS announced a multi-year renewal with DISH and Sling TV, marking its third crosscompany renewal.
- The company also continued to benefit from strong reverse compensation and recently signed agreements with Sinclair and Cox.
- ViacomCBS unveiled the first major step in transforming CBS All Access into a rebranded super service and remains on track to relaunch this differentiated streaming product in early 2021.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2020
-0.8%
Avg return
Earnings day
-1.6%
Avg return
5 days after
-2.7%
Avg return
30 days after
60%
24 / 40 earnings
Positive
+10.4%
Q3 2023
Best reaction
-28.4%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.4% | -0.1% | -6.5% | |
| Q4 2025 | +10.0% | +22.5% | -13.5% | |
| Q3 2025 | -0.5% | -2.4% | +3.6% | |
| Q2 2025 | -5.5% | -11.7% | +10.5% | |
| Q1 2025 | +2.2% | +1.1% | +2.1% | |
| Q4 2024 | +0.2% | +2.3% | +3.0% | |
| Q3 2024 | -4.0% | -3.2% | -4.7% | |
| Q2 2024 | -2.4% | -1.6% | -3.5% | |
| Q1 2024 | +2.9% | +8.2% | -1.8% | |
| Q4 2023 | -1.7% | -8.4% | +4.6% | |
| Q3 2023 | +10.4% | +18.9% | +46.1% | |
| Q2 2023 | +2.9% | -2.3% | -14.3% | |
| Q1 2023 | -28.4% | -27.8% | -32.7% | |
| Q4 2022 | -4.2% | -6.6% | -19.7% | |
| Q3 2022 | -12.4% | -14.6% | +6.3% | |
| Q2 2022 | +1.1% | -1.4% | -7.7% | |
| Q1 2022 | -1.3% | -7.8% | +3.8% | |
| Q4 2021 | +2.7% | -19.0% | +5.3% | |
| Q3 2021 | -4.4% | -5.5% | -17.3% | |
| Q2 2021 | +7.1% | +5.1% | +6.4% | |
| Q1 2021 | -2.4% | +1.0% | +6.6% | |
| Q4 2020 | +1.9% | +4.3% | -25.1% | |
| Q3 2020 | -6.4% | -3.5% | +18.1% | |
| Q2 2020 | +3.4% | +2.0% | +10.6% | |
| Q1 2020 | +10.3% | +22.6% | +66.8% | |
| Q4 2019 | -17.9% | -28.9% | -66.4% | |
| Q2 2019 | -17.9% | -28.9% | -66.4% | |
| Q3 2019 | -3.6% | -1.6% | -3.6% | |
| Q1 2019 | -1.4% | -5.2% | -5.6% | |
| Q4 2018 | +3.1% | +4.3% | -2.9% | |
| Q2 2018 | +3.1% | +4.3% | -2.9% | |
| Q3 2018 | +2.0% | +0.8% | -5.5% | |
| Q1 2018 | +9.1% | +5.5% | +2.5% | |
| Q4 2017 | +1.6% | -0.5% | -9.3% | |
| Q2 2017 | +1.6% | -0.5% | -9.3% | |
| Q3 2017 | +2.8% | +2.4% | +3.7% | |
| Q1 2017 | +0.6% | +0.2% | -3.4% | |
| Q2 2016 | +0.4% | +2.6% | +2.3% | |
| Q4 2016 | +0.4% | +2.6% | +2.3% | |
| Q3 2016 | +0.6% | +4.7% | +9.1% | |
| Q1 2016 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q1 2009 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q4 2007 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — | |
| Q4 2009 | — | — | — | |
| Q2 2009 | — | — | — | |
| Q3 2008 | — | — | — | |
| Q3 2009 | — | — | — | |
| Q4 2008 | — | — | — | |
| Q2 2008 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro