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ViacomCBS Inc. (NASDAQ:VIAC) shares are trading lower Wednesday after the company reported fourth-quarter adjusted EPS results were down year-over-year.
ViacomCBS reported quarterly earnings of 26 cents per share, representing a 75% decrease over earnings of $1.04 per share from the same period last year. The company reported quarterly sales of $8 billion, which beat the analyst consensus estimate of $7.49 billion by 7%.
ViacomCBS was down 19.59% at $28.94 at publication time.
Related: ViacomCBS Rebrands As Paramount: What You Need To Know
The weak earnings were a couple steps back for the company as it is falling to the lows of December 2021. The stock will need to start to form higher lows for a possible reversal back toward resistance.
Bullish traders are looking for these higher lows and then want to see the stock cross above the moving averages.
Bearish traders look to be in control of the stock as it sits and are looking to see the stock continue trading lower and to create lower highs along the way.
Photo: Courtesy of Diverse Stock Photos on Flickr
Posted In: VIAC