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ViacomCBS Stock Crashed Today. Is It a Buy?

·2 min read
ViacomCBS Stock Crashed Today. Is It a Buy?

Last night, Paramount announced its financial results for the fiscal fourth quarter of 2021 and for 2021 as a whole. On the one hand, Paramount seems to have missed Wall Street's projection for its "pro forma" earnings, reporting just $0.26 per share where Wall Street wanted to see $0.43. On the other hand, Paramount delivered tremendous generally accepted accounting principles (GAAP) earnings, with profits as calculated according to GAAP more than doubling to $3.05 per share in Q4 and full-year profits up 79% at $6.69 per share.