We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Advertising revenues of $2.63 billion inched up 1.3% year over year, driven by an improved advertising market.
Affiliate revenues of $2.1 billion climbed 2.1% year over year, reflecting expanded distribution and higher reverse compensation.
Global streaming & digital video revenues surged 48.1% year over year to $1.32 billion, driven by 84% growth in streaming subscription revenues and 25.5% streaming advertising revenue growth.
Global streaming subscribers touched 56 million, adding 9.4 million subscribers in the reported quarter.
Theatrical revenues logged $39 million in the reported quarter compared with the year-ago quarter’s $4 million. Content-licensing revenues of $1.9 billion increased 44.6% year over year.
Segment Details
ViacomCBS’ TV Entertainment revenues increased 18.5% year over year to $3.69 billion, driven by higher licensing, streaming and affiliate revenues.
TV Entertainment’s adjusted OIBDA declined 73.2% from the year-ago quarter’s figure to $147 million due to increased investment in Paramount+ streaming services.
Cable Networks revenues increased 16.6% year over year to $4 billion, driven by higher streaming, advertising, affiliate and licensing revenues.
Cable Networks’ adjusted OIBDA declined 33.6% from the year-ago quarter’s reading to $532 million, driven by a robust top line.
Filmed Entertainment revenues increased 61% year over year to $826 million, driven by higher theatrical and licensing revenues. Licensing and other revenues in the filmed entertainment segment increased 54% year over year, driven by a higher volume of licensing that includes company-owned streaming services and from the comparison against the impact in 2020 from Covid-related production shutdowns.
Adjusted OIBDA was $54 million, up 200% year over year.
Balance Sheet
As of Dec 31, 2021, ViacomCBS had cash and cash equivalents of $6.3 billion compared with $4.8 billion as of Sep 30, 2021.
Cedar Fair is set to announce fourth-quarter 2021 results on Feb 16.
FUN is up 41.3% in the past year against the Zacks Leisure and Recreation Services industry’s decline of 4.2% and the Consumer Discretionary sector’s fall of 23.1%.
Crocs is set to announce fourth-quarter fiscal 2021 results on Feb 16.
CROX is up 24.6% in the past year against the Zacks Textile – Apparel industry’s decline of 10.7% and the Consumer Discretionary sector’s fall of 23.1% in the past year.
Gildan Activewear is set to announce fourth-quarter 2021 results on Feb 23.
GIL is up 42.7% in the past year against the Zacks Textile – Apparel industry’s decline of 10.7% and the Consumer Discretionary sector’s fall of 23.1%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ViacomCBS (VIAC) Q4 Earnings Miss Estimates, Revenues Rise Y/Y
ViacomCBS delivered adjusted earnings of 26 cents per share in fourth-quarter 2021, declining 75% year over year.
The Zacks Consensus Estimate for earnings was pegged at 38 cents per share
Revenues of $8 billion beat the Zacks Consensus Estimate by 6.6% and increased 16% year over year.
Adjusted OIBDA declined 53% from the year-ago quarter’s level to $557 million.
Selling, general and administrative expenses increased 31.3% year over year to $1.99 billion.
ViacomCBS Inc. Price, Consensus and EPS Surprise
ViacomCBS Inc. price-consensus-eps-surprise-chart | ViacomCBS Inc. Quote
Revenues by Type
Advertising revenues of $2.63 billion inched up 1.3% year over year, driven by an improved advertising market.
Affiliate revenues of $2.1 billion climbed 2.1% year over year, reflecting expanded distribution and higher reverse compensation.
Global streaming & digital video revenues surged 48.1% year over year to $1.32 billion, driven by 84% growth in streaming subscription revenues and 25.5% streaming advertising revenue growth.
Global streaming subscribers touched 56 million, adding 9.4 million subscribers in the reported quarter.
Theatrical revenues logged $39 million in the reported quarter compared with the year-ago quarter’s $4 million. Content-licensing revenues of $1.9 billion increased 44.6% year over year.
Segment Details
ViacomCBS’ TV Entertainment revenues increased 18.5% year over year to $3.69 billion, driven by higher licensing, streaming and affiliate revenues.
TV Entertainment’s adjusted OIBDA declined 73.2% from the year-ago quarter’s figure to $147 million due to increased investment in Paramount+ streaming services.
Cable Networks revenues increased 16.6% year over year to $4 billion, driven by higher streaming, advertising, affiliate and licensing revenues.
Cable Networks’ adjusted OIBDA declined 33.6% from the year-ago quarter’s reading to $532 million, driven by a robust top line.
Filmed Entertainment revenues increased 61% year over year to $826 million, driven by higher theatrical and licensing revenues.
Licensing and other revenues in the filmed entertainment segment increased 54% year over year, driven by a higher volume of licensing that includes company-owned streaming services and from the comparison against the impact in 2020 from Covid-related production shutdowns.
Adjusted OIBDA was $54 million, up 200% year over year.
Balance Sheet
As of Dec 31, 2021, ViacomCBS had cash and cash equivalents of $6.3 billion compared with $4.8 billion as of Sep 30, 2021.
ViacomCBS committed $3.5 billion revolving credit facility remains undrawn.
Total debt as of Dec 31, 2021, was $17.71 billion in line with the total debt as of Sep 30, 2021.
Zacks Rank & Stocks to Consider
ViacomCBS currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Consumer Discretionary sector are Cedar Fair (FUN - Free Report) and Crocs (CROX - Free Report) , both sporting a Zacks Rank #1 (Strong Buy), and Gildan Activewear (GIL - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cedar Fair is set to announce fourth-quarter 2021 results on Feb 16.
FUN is up 41.3% in the past year against the Zacks Leisure and Recreation Services industry’s decline of 4.2% and the Consumer Discretionary sector’s fall of 23.1%.
Crocs is set to announce fourth-quarter fiscal 2021 results on Feb 16.
CROX is up 24.6% in the past year against the Zacks Textile – Apparel industry’s decline of 10.7% and the Consumer Discretionary sector’s fall of 23.1% in the past year.
Gildan Activewear is set to announce fourth-quarter 2021 results on Feb 23.
GIL is up 42.7% in the past year against the Zacks Textile – Apparel industry’s decline of 10.7% and the Consumer Discretionary sector’s fall of 23.1%.