ViacomCBS cashes in on clamour for streaming
Jump of 50% in domestic streaming subscribers from a year ago makes up for a decline in advertising revenue
07 May 2020 - 16:21
New York and Bengaluru — Media company ViacomCBS on Thursday beat first-quarter revenue and profit estimates, as higher demand for its streaming services from people hunkered down at home more than offset a drop in advertising revenue due to the coronavirus pandemic.
The jump echoes the growth of streaming service Netflix, which also posted strong net subscriber additions in the quarter...
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