ViacomCBS Inc (VIAC) released its first quarter results on Friday, May 7, 2021. The company reported net earnings of $1.44 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 72 percent compared to the same period a year ago.
ViacomCBS Inc. was incorporated in 1986 and is headquartered in New York, New York. ViacomCBS Inc. operates as a media and entertainment company worldwide. The company operates through TV Entertainment, Cable Networks, and Filmed Entertainment segments.
ViacomCBS's revenue increased 29 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 41.14% for the first quarter compared to the same period in the previous year, and operating margins increased to 20.62% over the same period. Net earnings for past trailing twelve months were $2772.0 million, up 179% from the prior year.
Moving on to the balance sheet, ViacomCBS's cash levels jumped 834% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 45.92% this past year. The current ratio for ViacomCBS now stands at 1.78. The company increased shares outstanding by 5.04%.
Shares of VIAC are currently trading around $39.39. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 8.71 and price to book ratio of 1.3.