ViacomCBS beats quarterly revenue estimates

(Reuters) – ViacomCBS Inc beat analysts’ estimates for quarterly revenue on Friday as higher demand for its streaming services, CBS All Access and Showtime, partially offset a decline in ad sales.

Revenue fell 9% to $6.12 billion in the third quarter ended Sept. 30, but came above estimates of $5.94 billion, according to Refinitiv IBES data.

The company said its domestic streaming services now has 17.9 million subscribers.

(Reporting by Ayanti Bera in Bengaluru and Kenneth Li in New York; Editing by Sriraj Kalluvila)