MENU

Published on 7/05/2020 5:07:24 PM | Source: Reuters

ViacomCBS beats revenue estimates as lockdowns boost demand for streaming

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Media company ViacomCBS Inc on Thursday beat Wall Street revenue estimates for the first quarter on higher demand for entertainment from people hunkered down at home under coronavirus-led lockdowns.

Revenue fell to $6.67 billion in the quarter ended March 31, from $7.1 billion, a year earlier, beating the average analyst estimate of $6.59 billion, according to IBES data from Refinitiv.

Domestic streaming and digital video revenue jumped 51% to $471 million from a year earlier.

 

(Reporting by Neha Malara in Bengaluru; Editing by Shinjini Ganguli)