ViacomCBS Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - ViacomCBS Inc. (VIAC) revealed a profit for first quarter that declined from last year.

The company's earnings came in at $508 million, or $0.82 per share. This compares with $1.95 billion, or $3.15 per share, in last year's first quarter.

Excluding items, ViacomCBS Inc. reported adjusted earnings of $699 million or $1.13 per share for the period.

Analysts had expected the company to earn $0.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.1% to $6.67 billion from $7.10 billion last year.

ViacomCBS Inc. earnings at a glance:

-Earnings (Q1): $699 Mln. vs. $898 Mln. last year. -EPS (Q1): $1.13 vs. $1.46 last year. -Analysts Estimate: $0.94 -Revenue (Q1): $6.67 Bln vs. $7.10 Bln last year.