Dade Hayes Finance EditorViacomCBS reported total revenue of $6.12 billion and earnings per share of 91 cents, exceeding Wall Street estimates but reflecting ongoing headwinds from COVID-19.The consensus forecast called for earnings of 88 cents a share and revenue just shy of $6 billion.
Revenue dipped 9% and earnings fell 17%.Advertising pulled back 6% in the quarter, totaling $2.2 billion, compared with $2.3 billion in the same quarter in 2019.The company has increasingly emphasized streaming, and said in its earnings release that it is on track to launch the rebranded Paramount+ in the first quarter of 2021.
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