ViacomCBS Swings to Loss in First Report After Merger

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ViacomCBS Swings to Loss in First Report After Merger
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ViacomCBS, in its first earnings report since the recombination of Viacom and CBS, swung to a loss, including deal-related and other charges. Management called the period a 'transitional' quarter. The stock fell sharply in pre-market trading.

, swung to a loss for its latest quarter, which included various deal-related and other charges, such as $468 million for restructuring and other matters, as well as $589 million in content-related writedowns.

The results fell short of Wall Street estimates. Quarterly revenue fell 3 percent to nearly $6.9 billion.Terminator: Dark Fate

 

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