ViacomCBS Misses 4Q Earnings Forecast But Adds Record 9.4M Streaming Subs To Hit 56M
ViacomCBS badly missed Wall Street forecasts for earnings per share in the fourth quarter, but added a record 9.4 million streaming subscribers and smashes revenue projections. Wall Street analysts had expected earnings of 43 cents, but they came in at 26 cents on an adjusted, diluted basis compared with $1.04 in the year-earlier quarter. Revenue of $8 billion, though, far outdistanced estimates for $7.51 billion, climbing 16%.
Roku 2Q Results Keep Climbing, But Streaming Hours Dip
Roku posted another strong quarter of results, but its shares fell 9% in after-hours trading due to factors like a dip in streaming hours and flattening growth trajectory of its active accounts. The streaming provider said net revenue grew 81% year-over-year to $645 million, ahead of Wall Street forecasts. Operating income reached $69.1 million, compared with a loss of $42.2 million in the year-earlier quarter.
