May 7, 2020 / 11:13 AM / 22 days ago

ViacomCBS beats revenue estimates as lockdowns boost demand for streaming

May 7 (Reuters) - Media company ViacomCBS Inc on Thursday beat Wall Street revenue estimates for the first quarter on higher demand for entertainment from people hunkered down at home under coronavirus-led lockdowns.

Revenue fell to $6.67 billion in the quarter ended March 31, from $7.1 billion, a year earlier, beating the average analyst estimate of $6.59 billion, according to IBES data from Refinitiv.

Domestic streaming and digital video revenue jumped 51% to $471 million from a year earlier. (Reporting by Neha Malara in Bengaluru; Editing by Shinjini Ganguli)

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