ViacomCBS stock rallies as profit matches expectations, revenue beats

Shares of ViacomCBS Inc. viac roseate 1.8% successful premarket trading Thursday, aft the media and amusement institution reported third-quarter nett that matched expectations and gross that beat, amid spot successful its streaming and TV amusement businesses. Net income fell to $538 million, oregon 80 cents a share, from $615 million, oregon $1.00 a share, successful the year-ago period. Excluding nonrecurring items, adjusted net per stock fell to 76 cents from 83 cents, compared with the FactSet statement of 76 cents. Revenue grew 13.2% to $6.61 billion, supra the FactSet statement of $6.56 billion, arsenic streaming gross roseate 62% to $1.08 cardinal and TV amusement gross accrued 24.2% to $2.92 billion. The institution added 4.3 cardinal planetary streaming subscribers successful the quarter, bringing the full to astir 47 million. The banal has mislaid 3.2% implicit the past 3 months done Wednesday, portion the S&P 500 spx has gained 5.9%.