ViacomCBS: Up on Q1 results beat

Paramount Global

06/05/2021 12:34

** ViacomCBS Inc shares  VIAC.O   VIACA.O  up 2.89% at
$40.23 premarket 
    ** Q1 revenue rises 14% to $7.41 bln, beating estimates of
$7.31 bln, according to Refinitiv data  urn:newsml:reuters.com:*:nL4N2MT389
    ** Says growth was due to a rise in broadcast TV advertising
driven by Super Bowl and NCAA Tournament games airing on its CBS
network
    ** Co's affiliate fees, which refer to the fees collected
from cable, satellite and online distributors, gain 5% at $2.08
bln in Q1
    ** Excluding items, co earns $1.52 per share, above
estimates of $1.22 per share
    ** VIAC has risen ~5% this year

    

    
    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))