ViacomCBS Q3 Profit Dips on Streaming Costs, But Revenue Rises

ViacomCBS said third-quarter profit declined as it invested in more content for streaming audiences, but noted that its revenue from just that consumer activity was on the rise, with 4.3 million new subscribers to its broadband outlets added during the period. The New York owner of the CBS broadcast network, the Showtime premium cable network and outlets such as Nickelodeon and Comedy Central said third-quarter net income fell to $538 million, or 80 cents a share, compared with $615 million, or $1.00 a share, in the year-ago period, as it invested in Paramount Plus, its new subscription-based streaming hub. But… Read Full Article