ViacomCBS (VIAC.US) stock surges more than 6.0% after the company posted solid quarterly results and announced it signed up the highest number of new streaming subscribers in the second quarter. Mass media company earned 97 cents per share, slightly above analysts’ expectations of 96 cents per share. Revenue jumped to $6.564 billion from $6.075 billion, also beating market estimates of $6.488 billion. Investors welcomed the news that the company's Paramount+ service added more than 6 million subscribers for a second straight quarter and now has a customer base of more than 42 million. Also Viacom signed a multi-year deal with Comcast Corp (CMCSA.US)'s Sky to launch the Paramount+ streaming service in Europe.
ViacomCBS (VIAC.US) stock has been moving within the descending channel recently. Today price is testing the upper limit of the formation which coincides with 200 SMA (red line) and upper limit of the 1:1 structure. If current sentiment prevails then upward move may be extended to the resistance at $43.90. On the other hand, if sellers manage to regain control then another downward impulse towards April's lows at $37.22 may be launched. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
