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ViacomCBS: Q2 EPS exceeds expectations

( - ViacomCBS has reported Q2 2020 adjusted net income from continuing operations that is down 16% at 769 million dollars, or 1.
25 dollar per share, some 30 cents above the consensus.

Group revenues fell by 12% to 6.27 billion dollars, hit by lower advertising revenues (-27%) and the virtual absence of cinema entries, which were penalised by the health crisis.

ViacomCBS, which withdrew its annual forecasts at the end of March, says that it has increased its target for annualised merger-related cost synergies, while simultaneously managing costs in response to the Covid-19 pandemic.

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