ViacomCBS exceeded Wall Street earnings expectations in the first quarter, paced by the addition of 6 million global streaming subscribers.The rebrand of CBS All Access as Paramount+ took place in March in the U.S.
and the company began a global rollout.Revenue came in at $7.4 billion for the period ending March 31, ahead of analysts’ consensus forecast for $7.2 billion.
Earnings per share of $1.42 also cleared the bar and rose 75% from the year-earlier quarter.Streaming revenue climbed 65% to $816 million as Paramount+ led the way.
The company said key subscription drivers included February’s Super Bowl, the NCAA Men’s Basketball Tournament in March, UEFA Champions League soccer and Oprah Winfrey’s interview with Meghan Markle and Prince
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