On Friday, ViacomCBS, the American mass media conglomerate, announced better than expected Q3 results and anticipates subscriber’s base to reach 19 million by the end of 2020. The firm posted a 55% growth in the revenue by digital video and streaming to touch the $636 M mark in Q3.
Besides, the organisation’s total advertisement revenue tumbled around 6%, still better than the 27% plunge in Q2. ViacomCBS posted earnings per share of $0.91 better than the predicted $0.80.
The US diversified conglomerate is trading 30% down since the beginning of the year, with the firm’s stock price falling 6.35% to $29.30 on Friday. The firm shares are projected to go as high as $36 in the next one year, with an average prediction of $31 and a lower point getting to $26, as expected by experts.