ViacomCBS Q3 earnings, revenue report beat estimates

ViacomCBS Q3 earnings, revenue report beat estimates

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.

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